updated 6:50 AM UTC, Apr 12, 2019
China to Ban Bitcoin Mining?
Albertsons Companies is Joining Blockchain-based IBM Food Trust Network to Pilot Technology to Incre
Samsung SDS is announcing its plans to innovate in various fields with Blockchain and Intelligent Pr
An Overview of the Best Bitcoin Exchange Apps
New Report by BlockchainDefender Links Lack of Trust in Cryptocurrency Industry to Dwindling Coin Pr
Fetch.AI To Launch Token Sale on Binance Launchpad to Build Intelligent Machine-to-Machine Economy
Blockchain Platform Orbs Marks Strategic Expansion Into South Korea
How blockchain technologies can take the wastage out of the retail economy
Ethereum-Powered Insurer Nexus Is Winning Over Blockchain Skeptics
Code as a Weapon: Amir Taaki Wants You to Join the Real Crypto Revolution

Ripple partners with MoneyGram

Ripple have partnered with MoneyGram, one of the world’s largest money transfer companies, to trial the use its solutions in its payments infrastructure.

MoneyGram will be piloting integrating XRP into its payment flows. XRP is a digital asset for payments with transaction fees. Ripple claims that the solution allows for transaction fees at just fractions of a penny, compared to current Bitcoin fees that are around $30 per transaction.

The average transaction time for XRP is 2-3 seconds, which is a good deal faster then other digital asset, some of which can range from 15 minutes to an hour.

“The inefficiencies of global payments don’t just affect banks, they also affect institutions like MoneyGram. Money transfer companies are incredibly important because they help people get money to their friends and loved ones,” said Brad Garlinghouse, CEO of Ripple.

“We are excited about this pilot and a long-term strategic partnership with MoneyGram. By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information.”


The current payment model requires money transfer companies to use pre-funded accounts to source liquidity. Blockchain technologies can be utilised this process and optimise capital deployment.

MoneyGram is hoping that the partnership will allow them to improve the efficiency of their global operations but also lead to a better customer experience.

Alex Holmes, Chief Executive Officer of MoneyGram, said:

“Every day blockchain technology is changing the norm and encouraging innovation. Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid. We’re hopeful it will increase efficiency and improve services to MoneyGram’s customers.”


Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.


New York


Humidity: 49%

Wind: 14.48 km/h

  • 03 Jan 2019 7°C 3°C
  • 04 Jan 2019 8°C 1°C