Ripple has announced a new partnership with MoneyGram that would leverage XRP to speed up fiat settlements.
Ripple has enjoyed an exciting past two months – having seen its value rise above the $3 USD mark thanks to a slew of new partnerships. Today, the company has announced yet another handshake – this time cementing a new partnership with MoneyGram in a bid that will see XRP used to speed up the flow of fiat settlements.
Ripple CEO, Brad Garlinghouse, confirmed the move in an official blog post, offering that “…The payments problem doesn’t just affect banks; it also affects companies like MoneyGram, which help people get money to the ones they care about… By using a digital asset like XRP that settles in three seconds or less, our clients can move money as quickly as information.”
Ripple has previously claimed that three new money transfer firms will leverage XRP in 2018, though the company has not publicly declared the names of any such organization.
The company has previously inked deals with American Express, where a new payment initiative will ferry funds from corporate customers in the United States to those in the United Kingdom.
XRP has resumed at trading values above the $2 USD mark at the time of the announcement. The development comes after the price of the coin rocketed upwards following the company’s decision to cryptographically escrow 55 billion coins, and after a crushing low brought on by Coinbase’s declaration that it would not list XRP in the foreseeable future.
What are your thoughts? Where could Ripple’s XRP find utility in the days, weeks, and months ahead? Be sure to let us know your opinion in the comments below!