The Ripple (XRP) price has bounced back

The Ripple (XRP) price has bounced back

The Ripple (XRP) price has bounced back

The two companies have come together to pilot XRP in MoneyGram's payment flows, wherein both these companies will study and understand MoneyGram's integration in Ripple ecosystem, through xRapid which is Ripple's solution created to provide on-demand liquidity to financial institutions. As part of this agreement, both companies will also explore MoneyGram's integration into Ripple's ecosystem through xVia.

The money transfer company clearly sees a lot of value in XRP and its efficient clearance times.

"This notion of using digital currency as a form of bridge funding is not unique to XRP", Fortune said, noting that a year ago, IBM and a consortium of banks in the South Pacific announced a blockchain transfer arrangement that uses a cryptocurrency called Stellar. "By using a digital asset like XRP that settles in three seconds or less, our clients can move money as quickly as information".

MoneyGram says that blockchain, the technology that powers digital currencies, has the potential to revolutionize its current money transfer process, which requires pre-funded accounts to fulfill transfers.

"Ripple is at the forefront of blockchain technology", Alex Holmes, chief executive officer of MoneyGram, said in the statement.

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Ripple one of the top cryptocurrencies in terms of market capitalization has partnered with globally renowned payment service MoneyGram.

MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family.

MoneyGram shares rose more than 8 percent, to $13.15, after it announced the Ripple partnership. As Ripple's technology is based on the blockchain, the payments flow is completely transparent and the fees are lower.

But thanks to a positive announcement from Ripple, the blockchain company behind XRP, the cryptocurrency has bounced 26% off its low to US$2.04 per coin according to Coin Market Cap.

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