Ripple joined forces with MoneyGram

News about cooperation of these two companies had great impact on XRP price
12 January 2018   2771

One of the world's largest money transfer systems, MoneyGram, announced a partnership with Ripple's financial solutions provider, which will use XRP tokens in its processes. 

To this end, MoneyGram will use the Ripple system xRapid.

According to the company's message, thanks to this, MoneyGram will be able to solve the liquidity problem, which is traditionally faced by most financial institutions, while saving time and money. At the same time, MoneyGram customers will be able to send funds in real time with full transparency and reliability of the process.

Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid. We’re hopeful it will increase efficiency and improve services to MoneyGram’s customers.
 

Alex Holmes 

Chief executive officer, MoneyGram

The news about the partnership between Ripple and MoneyGram immediately led to an increase in the price of XRP on stock exchanges - for a short period of time the weighted average rate of the coin, previously lowered to $ 1.62, rose above $ 2.

Ripple Price Chart
Ripple Price Chart

At the moment of press, these are the main market parameters of XRP:

  • Average Price $2.09
  • Market Cap $81 116 278 523 
  • 24h Volume $6 353 130 000

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   524

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.