Ripple price surges after announcement of Moneygram Partnership

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Ripple payment gateway has announced a new partnership with Moneygram today.

Ripple CEO Brad Garlinghouse commented on the company website announcing the partnership:

“The payments problem doesn’t just affect banks; it also affects companies like MoneyGram, which help people get money to the ones they care about. By using a digital asset like XRP that settles in three seconds or less, our clients can move money as quickly as information.”

Ripple’s official website confirmed that MoneyGram would integrate Ripple’s XRP. The integration, according to Ripple, “allows MoneyGram to solve the age-old liquidity issue most financial institutions face.”

Ripple has announced several partnership deals in the past month, and in the beginning of this year, the value of Ripple soared to highs that were thought not realistic serveral months ago.

Ripple is backed by several huge international banks. In November of last year, they teamed up with Amex and Santander Bank on a blockchain pilot to accelerate cross-border transactions between the United Kingdom and the United States.

Ripple is up almost nine percent in the last twenty-four hours according to Coinmarketcap, which is great news considering all of the negative South Korea news spreading around recently, which has caused the market to dip.

What are your thoughts on Ripple/Moneygram partnership? Please comment below!

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