Blockchain company Ripple inks strategic deal with MoneyGram

13 January, 2018, 00:49 | Author: Lester Mason
  • Ripple to fall to $1.25

"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 chief executive officer, Brad Garlinghouse, said in a statement.

But it appears the cryptocurrency's dog days are over (for now) after its price exploded following the announcement of a potentially historic deal with the cash transfer giant Moneygram.

Meanwhile, Ripple saw the rise -then fall, then rise again-of XRP's value, the digital asset used to move money and value across the Ripple network.

For MoneyGram, Fortune said, the partnership with Ripple "may provide a way to maintain its share of the money transfer market" amid competition from a new generation of low-priced Internet-based services like TransferWise.

Its transaction fee is just "fractions of a penny" and is much cheaper than the $30 it costs every time you trade in Bitcoin. The current model for these payments requires money transfer companies to use pre-funded accounts across the globe to source liquidity.

Home and Away actress Jessica Falkholt dies
Just yesterday their funeral took place at St Marys Cathedral in Sydney and today, Jessica joined them in peace. Annabelle's best friend Brittany Macchetta said the 21-year-old had a passion for travel, art and Harry Potter.

Flu season hits early, hard in Texas
Each Friday, the Kane County Health Department releases statistics providing an overview of influenza within the county. There have been four outbreaks of influenza at long-term care/assisted living facilities in the county.

Pirates Trade Pitcher Gerrit Cole To Houston Astros
The Astros would hope that Cole bounces back to his form from 2013-2016 when he had a 3.23 ERA over 579 1/3 innings of work. Cole, who is under team control for the 2018 and 2019 seasons, is in his second year of arbitration eligibility.

"The inefficiencies of global payments don't just affect banks, they also affect institutions like MoneyGram". Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid.

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

Cryptocurrency Ripple has broken higher after announcing a mainstream partnership with Moneygram. They cited the low cost and speed of XRP transactions.

For MoneyGram, the tie-up with Ripple may provide a way to maintain its share of the money transfer market.

This is the appeal of cryptocurrencies as a whole, but compared to other Bitcoin rivals like Ethereum and Litecoin, Ripple is still relatively affordable, making it more tempting for blockchain newbies to experiment with - and easier for a big business like MoneyGram to put its stamp on. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. That makes the process for payments costly and slow.

Recommended:

  • 200 arrested, dozens hurt in Tunisia unrest

    200 arrested, dozens hurt in Tunisia unrest

    The protests draw on anger over price and tax increases included in this year's budget that took effect on January 1. No less than 200 people have been detained by security forces and at least one man has died after clashes broke out.
    Wahlberg Earned 1500 Times More Than Williams For Doing The Same Work

    Wahlberg Earned 1500 Times More Than Williams For Doing The Same Work

    While his co-actor Williams, who volunteered her time giving up a planned cozy Thanksgiving at home, was paid less than $1,000. Scott told USA Today last month that the reshoot was made possible because nobody but Plummer and the crew got paid.
    Brooklyn assemblywoman indicted on fraud and other charges

    Brooklyn assemblywoman indicted on fraud and other charges

    The 57-year-old spent $10,000 of her ill-gotten gains on vacation getaways, reported the New York Daily News . Prosecutors say CIGG won another $35,000 in discretionary funding from the city council for fiscal year 2016.
  • Google bought a United Kingdom  startup that turns screens into speakers

    Google bought a United Kingdom startup that turns screens into speakers

    The reason was simple: in the ongoing fight to make thinner smartphones that pack in more and more tech, space is at a premium. It could also improve waterproofing for future phones since it eliminates the need for speaker holes.
    Arsenal Want Mahrez to Replace Alexis

    Arsenal Want Mahrez to Replace Alexis

    It has been a tough period for four months now. "I'm not in a hurry". The 26-year-old said: "We are still in negotiations". We don't have to take care about that anyway.
    Google's point-and-shoot VR180 cameras from Lenovo, YI announced at CES

    Google's point-and-shoot VR180 cameras from Lenovo, YI announced at CES

    So the two cameras they announced today are the Lenovo Mirage Camera with Daydream and the Yi Horizon VR180 Camera . The content can be viewed on a standard display of course , but it's really meant to be used with a VR headset .
  • James Franco Accused of 'Sexually Exploitative' Behavior by Five Women

    James Franco Accused of 'Sexually Exploitative' Behavior by Five Women

    She said that for years, she received mass email requests from Franco to audition for roles playing "a prostitute or a hooker". "First of all I want to say, I wore [the Time's Up pin] because I do support it", Franco said .
    Donkey Kong Country Tropical Freeze On Switch

    Donkey Kong Country Tropical Freeze On Switch

    If Tropical Freeze gave you trouble on Wii U, then, it might be worth revisiting on Switch and playing as Funky Kong. The writers here at Nintendo Enthusiast are huge fans of Tropical Freeze , so this is a welcome announcement.
    Mark Wahlberg reportedly paid way more than Michelle Williams for reshoot

    Mark Wahlberg reportedly paid way more than Michelle Williams for reshoot

    For her reshoots on " All The Money in the World , ' Michelle Williams " earnings paled in comparison to that of Mark Wahlberg . However, the new USA Today report states that Wahlberg negotiated for a big paycheck, and Williams was not informed.
  • M&S suffers sales fall in `mixed´ Christmas trading

    M&S suffers sales fall in `mixed´ Christmas trading

    Chief executive Dave Lewis said: "We have continued to outperform the market throughout this period, particularly in fresh food". Tesco has emerged as a festive victor after reporting a steep rise in sales over the critical Christmas trading period.
    New Switch ports and video games announced in Nintendo Direct

    New Switch ports and video games announced in Nintendo Direct

    New DLC for Mario + Rabbidsincludes new story content starring Donkey Kong as a playable fighter this Spring. This version of the game will also include the ability to play as Funky Kong, according to Eurogamer .
    Browns hiring Packers executive Eliot Wolf

    Browns hiring Packers executive Eliot Wolf

    A former National Football League running back, Highsmith spent 19 years in Green Bay's scouting department. Wolf reportedly also had an opportunity to join Reggie McKenzie with the Oakland Raiders .


Popular

Gasoline Price Continues Rise in San Diego County
And then a combination of factors will contribute to hikes as high as 50 cents a gallon during the spring, Jenkins said. The range in prices in the latest AAA survey for unleaded regular is 48 cents, from a low of $2.31 to a high of $2.79.

Local DJ Makes Move to (Hopefully) Spin at Prince Harry's Wedding
They attended an event holding hands, and later, Harry gave Markle a kiss during the closing ceremonies. William also said at the time that he and Kate are "delighted" for Harry and Markle.

Wikileaks Founder Julian Assange Granted Citizenship by Ecuador
A statement by Mr Assange's legal team said: 'The UN ruling, issued nearly two years ago, is crystal clear in its language. He had been wanted on assault claims in Sweden , which have been dropped, but now fears extradition to the US.

Facebook Testing Local News & Events Section in its App
According to a report by TechCrunch , Facebook is calling this feature " Today In " and testing it in select markets. CNET reported today that the test is now live for a new section called " Today In " across six U.S. cities.

Drunk man slaps Harvey Weinstein in the face at Arizona restaurant
Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. The man said that Weinstein vehemently refused, although the restaurant manager stated that Weinstein did so politely.

Winter Storm Hunter Bringing Snow Across United States
Saturday will see an 80 percent chance of rain, mainly before noon, followed by a 30 percent chance of showers after noon. According to the NWS, rain will change to freezing rain as temperatures drop Friday , and then to snow late in the day.

Trump just held an extraordinary public negotiation with Congress on immigration
Dick Durbin, D- Ill. told Trump he would find Democratic support on some elements of border security. At a White House meeting with Republican and Democratic members of Congress Tuesday, Sen.

Kilograms of Cocaine Seized at Port of Philadelphia
Cope and Mackey also contend there isn't much difference between "basic" and "advanced" searches - that both are highly intrusive. The EFF/ACLU lawsuit alleges that border searches of electronic devices violate the First and Fourth Amendments to the U.S.

Pakistan tensions rise as Trump administration halts security assistance
She told reporters that until Pakistan takes "decisive action" against those groups, security assistance was suspended. They said they could make exceptions for money that went to critical USA national security priorities.

Radiohead's Publisher Denies Lana Del Rey's Claims in 'Creep' Copyright Dispute
Prior to litigation, both sides may also engage their own musicologists to study the similarities between the two compositions.