Ripple joined forces with MoneyGram

News about cooperation of these two companies had great impact on XRP price
12 January 2018   2500

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

Coincheck OTC to List ETH & XRP

OTC-platform from Coincheck aimed at large investors, started working about two weeks ago and minimum transaction threshold is 50 BTC
15 April 2019   399

Coincheck has added support for Ethereum (ETH) and Ripple's XRP token to the recently launched over-the-counter (OTC) platform. This is reported by Cointelegraph.

In addition to ETH and XRP, the Coincheck OTC platform supports Bitcoin. The management of the marketplace plans to add other cryptoactives in the future.

OTC platforms are focused mainly on large traders who want to reduce transaction costs when working with large amounts. In particular, transactions on such platforms are carried out outside the main book of exchange orders, which sometimes allows to avoid excessive price fluctuations. In addition, at such sites, investors often have the opportunity to buy or sell an asset at a better price.

OTC-platform from Coincheck started working about two weeks ago. The minimum transaction threshold is 50 BTC.

Last year, Coincheck fell victim to a massive hacker attack, during which over $ 500 million in XEM equivalent was stolen.

Then the exchange was bought by a large online broker Monex Group Inc. The deal amounted to $ 33.6 million.