The payment portal based on Blockchain, Ripple, announced a new partnership with the MoneyGram payment service today, January 11.
In a post on his blog today, Ripple confirmed that MoneyGram will integrate XRP, altcoin of Ripple, into its payment system. The integration, according to Ripple, “allows MoneyGram to solve the old liquidity problem that most financial institutions face”.
The CEO of Ripple, Brad Garlinghouse, commented in the publication of the blog of the company that announced the association:
“The problem of payments not only affects banks, it also affects companies like MoneyGram, which helps people transfer money to people in the immediate circle or family who are displaced.
By using a digital asset such as XRP that is installed in three seconds or less, our customers can move money as fast as the information.”
Garlinghouse has increasingly defended the perceived benefits of XRP as a currency over Bitcoin as interest and trade increased. Given Ripple’s market value in early January, it was reported that the company’s president, Chris Larsen, had accumulated personal wealth to rival Warren Buffett and Bill Gates due to his 37 percent stake.
Ripple has filed several partnership agreements in recent weeks, and in the first week of 2018, the value of XRP soared to barely imaginable highs just a few months ago.
While the appreciation rate spared no warnings and criticism, Coinbase’s refusal to add XRP allegedly precipitated a 30 percent drop last week, something that according to the latest news seems to be changing.
XRP has risen almost eight percent in the 24 hours until the time of writing this post, according to data from CoinMarketCap, which since January 8 does not include some of the main markets of South Korea.