In Q3 2020, MoneyGram continued to receive huge “market development fees” from its investors. Its major partner Ripple handed over $9.3 million over the period.
Brazilian Banco Rendimento has joined RippleNet cloud. Cloud services are supposed to bring a lot of benefits to the financial institution like agility, transparency, and reduced cost.
Currently, Western Union and MoneyGram are in talks on the buy offer, but no decision has been made yet. Following the rumors, both Western Union and MoneyGram stocks have soared. WU stock is over 8% up while MGI has managed to gain over 38% in the pre-market.
In 2019, MoneyGram has received $11.3 million worth of XRP, $8.9 million in the fourth quarter only. In 2020, this number seems to be increased.
Ripple has entered in a new partnership. Together with International Money Express, Inc. (Intermex) it will ensure faster cross-border payments between the U.S. and Mexico.
Both these companies are eager to use Ripple’s xRapid payments solution that is designed to provide on-demand liquidity.
Ripple’s ability to provide on-demand liquidity and instant transfer within seconds makes it one of the most preferred blockchain-based payments solution.