RATE Group | Cryptocurrency startup Ripple invests additional $20M in MoneyGram in a push to deploy X…
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Cryptocurrency startup Ripple invests additional $20M in MoneyGram in a push to deploy X…

26 Nov Cryptocurrency startup Ripple invests additional $20M in MoneyGram in a push to deploy X…

Posted at 02:17h in Cryptocurrency News by

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Back in June, Ripple, a provider of leading enterprise blockchain solutions for global payments, announced a major partnership with MoneyGram. As part of the partnership, Ripple took a $50 million stake in MoneyGram as part of the effort to let the money transfer company use the digital currency XRP as part of its day-to-day operations.

Today, Ripple has made the final $20 million investment in MoneyGram. The $20 million is the final investment that was part of the original $50 million equity investment commitment made earlier this year by Ripple. As part of the deal, Ripple purchased the newly-issued equity from MoneyGram at $4.10 per share, which represents a significant premium to MoneyGram’s current market price. This funding will support MoneyGram’s operations as the company continues to increase volume and use of On-Demand Liquidity, Ripple’s product that leverages the digital asset XRP to send money globally, instantly and reliably for fractions of a…

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