The latest partnership of Ripple with Moneygram was one of the hottest deal Ripple has signed up. Following the partnership, MoneyGram CEO appeared in an interview, speaking the benefits it can leverage from its partnership.
Ripple’s strategic partnership with money transfer giant, MoneyGram comes after Ripple decides to invest up to $50 million in MoneyGram. In return for such huge investment, Ripple will receive equity for over a two year period.
While talking about the partnership, Alex Holmes, CEO of MoneyGram appreciates xRapid and XRP as an asset is an absolute right for MoneyGram that helps them in settlement services.
The interview snap was first revealed by a Twitter user and a member of XRP community, Dillon,
27th June 2019
Moneygram CEO on @Ripple partnership
"From a platform perspective #xRapid and #XRP as an asset is the absolutely the best one to use for settlement" "We have the liquidity and not the speed and #Ripple has the speed so it’s a perfect partnership"#XRPcommunity pic.twitter.com/XObg1fbnIq
— Dillon (@Dillon) June 27, 2019
Alex Holmes further states that;
“This partnership gives us a chance to put real-time meaningful value into the network and get that liquidity through the system, which I think is going to show that from a platform perspective, xRapid and XRP, as an asset is the absolute right one to use for the settlement services and it should, if done well”. He kept on adding;
“We have liquidity, but we don’t have the speed on the back-end processes. They (Ripple) have the speed, but not the liquidity. I think it’s a perfect marriage and I think it is going to be a great opportunity to show the World what we can do”.
MoneyGram is reportedly the second-largest money transfer service in the world, offering cross-border payments and foreign exchange settlement using Ripple’s product, xRapid and encourage XRP-powered settlement service. Concerning the partnership, Brad Garlingouse, CEO of Ripple earlier told that;
“This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies,”
Image source – Shutterstock
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