On January 11, Ripple, a real-time gross settlement system (RTGS), currency exchange and remittance network, started cooperation with the world-famous payment platform MoneyGram.
Ripple commented that MoneyGram would incorporate Ripple’s native cryptocurrency XRP into its payment platform. The cooperation with MoneyGram “allows MoneyGram to solve the age-old liquidity issue most financial institutions face”, – said the representative of Ripple.
“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 CEO Brad Garlinghouse.
Besides the partnership with MoneyGram, Ripple also announced about cooperation with The Bill and Melinda Gates Foundation (Mojaloop open-source payments software).