MoneyGram share price rises after Ripple (XRP) pilot announced

Cryptocurrency markets are facing big losses

While existing money transfer companies need to have pre-funded accounts in different nations to ensure they are able to facilitate transactions, using XRP means the company can directly transfer funds from one country to another instead, Ripple chief executive Brad Garlinghouse said.

The company says XRP remains the most efficient digital asset for payments with transaction fees at just fractions of a penny, compared to Bitcoin fees of about $30 per transaction.

"We are excited about this pilot and a long-term strategic partnership with MoneyGram".

Banks within the Japan Bank Consortium are one of many institutions that are actively working with Ripple to solve the multi-trillion dollar problem plaguing the financial industry, corporates and consumers worldwide - the lack of liquidity (or cash) to instantly send or receive low-priced global payments.

Serena Williams Covers Vogue With Baby Daughter Alexis
The 36-year-old first-time mom confessed that she'd had "an enviably easy pregnancy" until her scary labor experience. No one talks about the low moments -the pressure you feel, the incredible let down every time you hear the baby cry.

Suspects in death of 4-year-old MI girl captured in Georgia
The manhunt started after police say the little girl was found unresponsive with severe burns on her body. Marshals in Lake Park near the Florida state line, the Sumpter Township Police Department confirmed.

BBC pay gap: British human rights commission gets involved
Using the hashtag #IStandWithCarrie, many took to Twitter to show their support for the journalist. A BBC spokesman said "fairness in pay is vital".

Ripple, a bitcoin rival, claims it can settle digital transactions in three seconds or less, making it attractive to financial institutions.

For MoneyGram, the second largest money transfer company in the world, this strategic partnership will allow them to understand how blockchain technology and XRP can improve the efficiency of their global treasury operations and consumer experience. Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid.

The ability to send money globally in real time has caught fire in the worldwide financial industry. Dragging it down were concerns that it was overbought and criticism of Ripple's centralized business model, which stands in stark contrast to the decentralization that is key to bitcoin, Ethereum and many other digital currencies. "We're hopeful it will increase efficiency and improve services to MoneyGram's customers", he said. The two agreed upon expanding their digital payment methods globally, but the USA had blocked it, sending Moneygram shares down over 9 percent. That makes the process for payments costly and slow.

Related news:

Hot News

isis-killer-beheading-video-story-top Family of five rescued from debris of home following California mudslides
Jan 11, 2018 - 00:27
Already, the incident is deadlier than the 2005 California mudslide - which took place only 20 miles from Tuesday's disaster. Dave Zaniboni says crews are making rescues across the foothill enclave of Montecito northwest of Los Angeles .

isis-killer-beheading-video-story-top Alabama WR Calvin Ridley entering NFL Draft
Jan 11, 2018 - 00:26
He had more than 100 yards receiving in one other game this year, posting 103 in a victory against Mercer on November 18. Ridley's 7-yard touchdown catch with 3:49 left tied the title game against Georgia and Alabama won 26-23 in overtime.

isis-killer-beheading-video-story-top Bitcoin Rises as Ripple's Attract Fades for Manic Crypto Merchants
Jan 11, 2018 - 00:25
In 2017, XRP soared 35,000 per cent, surpassing bitcoin's surge of around 1,500 per cent. Just as bitcoin, the ripple has had some volatility in the past one month.

isis-killer-beheading-video-story-top Trump will attend elite World Economic Forum in Davos, Switzerland
Jan 10, 2018 - 00:35
Davos was once held up by the Trump campaign as an example of what was wrong with Hillary Clinton's Democratic party. Trump goes to Davos after backing out of a Pacific Rim trade agreement and repudiating the Paris Climate accord.

isis-killer-beheading-video-story-top Report Says Huawei Failed to Reach Smartphone Sales Deal With AT&T
Jan 10, 2018 - 00:33
Huawei has stated that while the Mate 10 Pro won't be offered via a carrier in the USA , it would be offered via open channels. Seemingly unmindful of the setback, Huawei made known of its resolve to have a get-go on the USA market.

isis-killer-beheading-video-story-top Blizzard and Twitch announce Overwatch League media partnership
Jan 10, 2018 - 00:31
From its schedule , to teams, and how to watch it, this is everything you need to know about the Overwatch League . The deal will also feature a number of in-game item exclusives and rewards for fans using the Twitch platform.

isis-killer-beheading-video-story-top OPEC members not keen on Brent prices above $60
Jan 10, 2018 - 00:29
Rising U.S. production and weaker refined products demand weighed on the market, traders said. Futures extended gains to as much as 1.7% in NY .

isis-killer-beheading-video-story-top Israel Bans Entry of NGO Representatives Supporting Boycott
Jan 09, 2018 - 00:28
Signs at a pro-BDS protest in NY following the USA decision to move its embassy in Israel to Jerusalem. The Strategic Affairs Ministry was created in 2006 at the request of Avigdor Lieberman.

isis-killer-beheading-video-story-top Montreal race-relations group denounces H&M for ad with 'racial slur'
Jan 09, 2018 - 00:26
H&M came under fire on social media for using a black boy to advertise a sweatshirt that said "coolest monkey in the jungle".

isis-killer-beheading-video-story-top Ally Sheedy Calls out Golden Globes Winner James Franco in #MeToo Tweet
Jan 09, 2018 - 00:18
Christian Slater and James Franco at a table on @goldenglobes #MeToo ", before adding, " James Franco just won. At the time, Sheedy called Franco "a handsome , generous man" in a New York Times profile.

LaVar Ball Torched Luke Walton For Having 'No Control' Over The Lakers
Jan 08, 2018 - 01:13
My concerns are coaching our team and prepping for games and working with what gives us the best chance of winning. When asked about his job security last week, Walton said, "I coach as if it's not" in jeopardy .

isis-killer-beheading-video-story-top Trump postpones his 'fake news' awards
Jan 08, 2018 - 01:13
Stephen Colbert also got in on the act, purchasing a billboard in Times Square to make sure he would not get snubbed. Trevor Noah's " Daily Show " also has a for-your-consideration graphic on its Twitter feed.

isis-killer-beheading-video-story-top Jake Tapper cuts off contentious interview with Trump aide Stephen Miller
Jan 08, 2018 - 01:11
Miller repeatedly described Trump as a "political genius" and complained about the unfair treatment during the interview. The two began by discussing the controversial new book about Trump's administration, " Fire and Fury ".

isis-killer-beheading-video-story-top Egypt's Salah voted African Player of the Year
Jan 08, 2018 - 01:08
Salah pipped clubmate Sadio Mane to win the African Player of the Year . Mohamed Salah has won the African Player of the Year award .

isis-killer-beheading-video-story-top Metro Detroit Weather: Wind Chills to 30 below!
Jan 07, 2018 - 00:58
It looks like we will snap our two-week streak of temps below freezing on Monday-but barely with highs only hitting around 32. Isolated spots could see 2 inches as the snow is very fluffy and light, causing it to accumulate fast.