Partnership With MoneyGram Is Good For XRP and the Crypto Ecosystem, Ripple’s Global Head Affirms

Partnership-With-MoneyGram-Is-Good-For-XRP-and-the-Crypto-Ecosystem-Ripples-Global-Head-Affirms

Marjan Delatinne, the global head of banking at Ripple, has recently spoken at the Global Blockchain Summit by talking about some of the most popular topics with crypto investors. According to Delatinne, one of the main developments for the company was to start its partnership with MoneyGram, which began last week.

The partnership, as it was affirmed, has vital importance to the ecosystem because MoneyGram is currently one of the largest payment providers in the whole world. Because of this, a company such as Ripple simply has to work together with these giants.

Now, MoneyGram will use Ripple’s service, xRapid, in order to transfer funds around the world. This is considered a huge victory for the company, so xRapid can finally take-off.

So far, xRapid has been a very exciting technology for XRP holders, as it is one of the Ripple’s main products. Partly, all the excitement comes from the fact that many of these users expect Rippe’s xRapid to help in increasing the price of these assets.

If MoneyGram will use this technology, and the company has made over $20 billion USD in transfers last year, this would be the first time ever in which Ripple would see one of its products reaching a really high scale.

According to Delatinne, xRapid is all about sourcing on-demand liquidity. The focus on liquidity happens because the company believes that people do not give it the attention it deserves. However, liquidity was said to be the main cost behind cross-border transactions.

This happens because, without using a system such as xRapid, the accounts need to be pre-funded in order to make the exchanges work. With xRapid, companies will not need to tie their capital this way anymore and this can lead them to achieve better results.

Delatinne believes that banks are currently using archaic systems and that this makes them “hungry for change”, which is the perfect opportunity for services like xRapid to grow in use.

She also spoke about SWIFT, affirming that Ripple and SWIFT are actually not competitors because both of them have their own value and can work in a complementary way, so institutions and their clients can be helped by both.

Read Original/a>
Author: Gabriel Machado

Ripple’s xCurrent-Based Money Tap Gains Seven New Banks as Equity Holders

Ripples-xCurrent-Based-Money-Tap-Has-Attracted-Investment-From-Seven-New-Banks

Ripple has recently made the news for announcing that it would invest $50 million USD on MoneyGram and SBI Holdings, a Japanese financial services company. Now, the company is on the spotlight again and, fortunately, it is because of good news once more.

The company has recently announced that seven new banks are onboard of its Money Tap initiative, which is powered by the company’s xCurrent technology, based on the XRP Ledger.

Money Tap, in case you are not familiar with this technology, is a payment app launched by Ripple in order to make payments more seamless and faster. With the app, users can transfer money almost instantaneously whenever they want to.

The app also allows for transactions with bank accounts, using QR codes to pay and cross-border transfers. At the moment, only two banks were fully compatible with the system: Suruga Bank and the Suminobu SBI Net Bank.

Now, the Fukushima Bank, Towa Bank, Toho Bank, Chubuko Bank, Shimane Bank and Ashiga Bank, as well as a yet unnamed bank, are all using the Money Tap system, too. The number of banks which have invested in the technology, counting the ones that do not use it, is at 20 now. These banks include Shimizu Bank, Shiga Bank, Hiroshima Bank, Fukui Bank, Shinsei Bank and others.

As you may have perceived, basically all these banks are based in Japan. The Money Tap is becoming pretty strong locally, so there is no doubt that Japan is the main target that Ripple has for this project.

The current goal at the moment is to allow other organizations to participate in this consortium as well, which may bring benefits to them and to their customers. No names were announced, but some financial institutions are already interested in being a part of the new project.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

Read Original/a>
Author: Gabriel Machado

Ripple Executive: Mexico, Philippines Lead the Way for Demand in Cross-Border Remittances

Ripple Executive: Mexico, Philippines Lead the Way for Demand in Cross-Border Remittances

Ripple, the creator of the RippleNet and the XRP tokens (which are currently the 3rd largest cryptocurrency by market cap) are always on the lookout for new clients and partnerships. Because of this, the company has recently announced a new partnership with a company called MoneyGram.

This new partnership with the money transfer company based in Dallas will see Ripple investing $50 million USD in MoneyGram. This is being made to boost the use of RippleNet, the network of the company, which is mostly used for international payments.

With this partnership, Ripple would be able to increase the adoption of xRapid, one of its most popular for cross-border transfers. MoneyGram is a pretty established company that would help Ripple to upgrade the adoption of its products with time as the company is active in over 20 countries.

The vice president of product at Ripple, Kevin Mole, affirmed that XRP has a huge role in providing on-demand liquidity for markets and that this was a way for customers of the company to be able to send money to other countries with a fairly low cost and without having to pre-fund the destination accounts.

He affirmed that some of the other ways to send money to other countries are highly inefficient, so there is no reason why people should not change the kind of services that they are currently using.

According to him, on-demand liquidity is already available on both Mexico and the Philippines. These two countries are huge when it comes to receiving external remittances, he affirmed. Mexico received $31 billion USD last year while the Philippines were able to get $33 billion USD.

Because of this data, the company believes that the country holds a considerably big demand for services such as the ones being offered by Ripple. Also, many of these payments are made in order to cover necessities, so they can have a really high impact on the lives of these people.

Mole also affirmed that the company was able to settle payments in mere minutes while most of the other companies out there took sometimes even days. The cost is low and the impact is very big, so these markets are going to be considerably improved by being a part of the company’s targets for growth.

Read Original/a>
Author: Gabriel Machado

Ripple Announces New Strategic Partnership With MoneyGram (MGI)

Ripple Announces New Strategic Partnership With MoneyGram (MGI)
  • Ripple signs new partnership with MoneyGram
  • Using xRapid MoneyGram will leverage XRP to have faster and cheaper transactions

Ripple has just signed a new strategic partnership with MoneyGram, one of the largest money transfer companies in the world.

Through this partnership, Ripple is expected to become MoneyGram’s partner for cross border payments and exchange settlements using virtual currencies. The information was released by Ripple in a recently published statement.

Ripple Announces Partnership With MoneyGram

As per the announcement made by Ripple, during the next two years, Ripple will be providing MoneyGram with cross border trading services and foreign exchange settlement through digital assets. At the same time, Ripple has decided to provide a capital commitment to the company, allowing them to draw up to $50 million in exchange for equity.

Through this partnership, MoneyGram will be using the xRapid product developed by Ripple to reduce the reliance on pre-funding bank accounts. Funds would be sent from one currency and settled in another currency in other countries.

The xRapid product uses the XRP digital asset in order to make fast and cheap transfers. XRP is one of the most efficient digital currencies for settlement with transaction fees that are just fractions of a penny.

MoneyGram Chairman and CEO, Alex Holmes, commented about this partnership:

“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

At the moment, MoneyGram is operating in a $600 billion global remittance market and it has served millions of customers in different countries around the world. MoneyGram relies on traditional foreign exchange markets in order to be able to meet its market obligations.

After the announcement released by Ripple, the price of the XRP digital asset moved over 5% from $0.43 to $0.45.

A few weeks ago, several rumors spread regarding Ripple purchasing MoneyGram. It seems that Ripple had something prepared, and this partnership seems to be very important for the future of the third largest digital asset.

Read Original/a>
Author: Carl T

XRP Company, Ripple, Opens a Subsidiary in Brazil to Grow Reach Across South America

Ripple-Opens-a-Subsidiary-in-Brazil-as-It-Seeks-to-Expand-Across-Latin-America

Ripple Opens A Subsidiary In Brazil As It Seeks To Expand Across Latin America

Ripple has announced that it has opened an office in Brazil as the company looks to expand its operations across South America, Cointelegraph reports.

The company behind the third largest crypto as per XRP market cap, plans to announce the development at CIAB Febraban, a famous fintech and banking event that will be held in Sao Paulo, Brazil from June 11 to 13th June.

Luiz Antonio Sacco, who used to work in Warranty Group as a CEO, will head the new office. Sacco joined Ripple in March this year says that Ripple aims at attracting more people to its payment platform RippleNet. Sacco explained that the company intends to reach not only Brazilians but also the entire Latin America. Currently, RippleNet has been adopted by three Brazilian financial based clients namely; Santander Brasil, BeeTech Global and Banco Rendimento, notes Cointelegraph.

“We are excited to expand our ecosystem in the region and bring more financial institutions connected to RippleNet, which will contribute to the greater efficiency of global payments and, above all, a better experience for its customers. and Ripple has differentiated itself in this sector because it offers proven solutions to solve real problems, opening the way to the rest of the South American continent” Said Sacco.

Offering Educational And Training Programs

Ripple does not only look to offer payment network services only in the country. According to Sacco, the company will partner with various universities in Brazil to launch educational and training programs. The firm has already entered into an agreement with the University of São Paulo and Fundação Getúlio Vargas to offer training on different aspects on cryptocurrencies and blockchain. Sacco says that heavy investment in training program will help in promotion of blockchain technology in Brazil and the region in general. The training will also enhance research in the field thereby expanding career opportunities for the youths in the country.

“We believe that educational institutions will play a key role in advancing blockchain applications. USP and FGV are innovative institutions that, in addition to investing in research into new uses for the blockchain, are empowering their students in new technologies that will mean new career opportunities,” explains Sacco.

The CEO noted that the company is already working with more than 15 professors from the two universities who will support research and technical development in various disciplines like law, engineering and business.

RippleNet Gaining Prominence

The company’s payment network, RippleNet, is gaining prominence in the financial sector and by early this year, Ripple announced it had more than 200 customers across the world. The firm announced that five of its clients; JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank, are now using XRP for cross-border payments.

The company has been opening offices in various cities around the world to popularize its payment platform. Bitnews Today reports that Ripple has opened a new office in Zurich, Switzerland in efforts to popularize the XRP payment system across Europe.

Will the new office in Brazil help in reaching out to the rest of Latin Americans? Share your thoughts with us in the comments section.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

Read Original/a>
Author: Joseph Kibe

Ripple Moves 40 Million XRP To Different Wallets; Crypto Watchers Speculate FUD to FOMO

Ripple Moves 40 Million XRP To Different Wallets; Crypto Watchers Speculate FUD to FOMO
  • Ripple made several transactions to different wallets
  • This generated different comments from the community

Ripple has transferred around 40 million in XRP to different wallets int he last few weeks. This is something that the community is talking about and wondering why these large transactions are taking place.

According to Whale Alert, a twitter account that tracks large blockchain transactions, there have been several noteworthy transfers between June 8 and June 9.

What Are These Large Transactions?

One of these transactions was from Ripple to another wallet in which the company transferred 20,000,000 XRP ($8,440,297 at the time of processing the transfer). The sender address was identified to be from Ripple: rffYK32pnicbmUvodKsLxTyQFJyEb23gaZ. Meanwhile, the receiver’s address was not identified but the address was rHJMEHv4eKhBCmjqDEJtFcvZTZC9q1K1s7.

Seconds after the transaction, Ripple sent again 20 million XRP to another wallet called XRP 11 wallet. This address is the following: rHjJwY4maqRyUxCnJ9bNNQ2Tva9fe9T8ud. This specific address was used to transfer the third largest digital currency to different exchanges, including Digifinex, HitBTC and also Huobi.

The crypto community is currently wondering whether Ripple is currently flooding the market or selling XRP to other parties interested in holding the virtual currency.

Currently, CoinMarketCap shows that Ripple is being traded around $0.398 and it has a market capitalization of $16.83 billion. In the last 24 hours, XRP is the digital currency that lost the largest value among the top 10, falling almost 4%.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

Read Original/a>
Author: Carl T