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MoneyGram CEO: Ripple is doing a lot of unique things with Blockchain and Crypto



MoneyGram (MGI) share surges 167% after Ripple (XRP) deal

In an interview with CNN, Adam Holmes, CEO of money transfer giant, MoneyGram told that “Ripple is doing a lot of unique things with blockchain and crypto.”

In the interview, Holmes discusses its partnership with Ripple and how it’s pushing boundaries. He said, “Ripple is doing a lot of unique things with blockchain and crypto” to help drive the possibility of real-time cross-border settlements.

“It has been a very nice partnership with Ripple. We have learned a lot together and continue to push boundaries of what can be and it has been a lot of fun for sure,” Holmes added. 

According to the MoneyGram survey on remittances, it has seen a tremendous increase in its user base and app transactions during COVID-19.

  • 140% increase in new online customers
  • 220% increase in app transactions
  • 11 straight months of triple-digit cross-border growth

Also, 70% of respondents sent more money in 2020 as compared to 2019 and 60% of respondents now use digital methods more.

In June 2019, both companies Ripple and MoneyGram announced a strategic partnership. Ripple invested $50 million in MoneyGram by the purchase of common stocks and warrants.

However, in November this year Ripple filed an application with U.S. Securities and Exchange Commission to sell up to 4 million shares of MoneyGram. This 4 million share is approximately 33.33% of its entire stake.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.