CEO Of Ripple Brad Garlinghouse recently was interviewed by Yahoo Finance and boy did he have a lot to say.
Brad Garlinghouse told Yahoo Finance that Ripple is working on “multiple” potential investments and acquisitions in the wake of a $30m investment in money transfer business Moneygram (MGI).
Brad Garlinghouse said:
“We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage” Active discussions on “multiple” potential investments and acquisitions were currently underway.”
Ripple is one of the world’s biggest and wealthiest digital asset companies. Ripple was founded in Silicon Valley in 2012, the company developed the XRP cryptocurrency, which is specifically designed to make international payments cheaper and faster. Ripple now uses there blockchain technology to help banks and financial institutions with international payments and they focus on international settlement.
As Brad would not give Yahoo Finance specific details on the partnerships or hint towards what might be coming down the line he had a reason for this – Brad said:
Deal are always very, very hard to predict. Banks that 2 years ago told me: Hey we love your technology, we’re thrilled to be working with you but we’re not going to use crypto. I said OK great. Some of those same banks are now coming back and saying hey let’s talk about that because they see the value
Brad then when on to speak about the recent MoneyGram deal:
The Moneygram deal is really one of the first scaled use cases of a digital asset in production,” Garlinghouse said. “This is a big deal. If I were betting now, a year from now the Moneygram deal will have a more consequential impact on crypto markets than the Libra white paper
MoneyGram is currently live on Xrapid and is sending payments every day into Mexico and the Philippines and seeing these payments settle within seconds thanks to Xrapid. Moneygram announced last week that it had begun using xRapid to move money internationally. Garlinghouse said Moneygram will start with the US dollar to Mexican peso and the US dollar to Philippine peso pairings. MoneyGram CEO told us that we should expect to see an impact in Q4 as they start to ramp up.
To finish off this article, let us tell you about the most part of this article. Brad Garlinghouse says by the end of 2020 we should expect to see the Xrapid daily volume close to $1billion dollars. The current Xrapdi volume as of today August 8th, 2018 is only about $180 million.