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Ripple Completes Moneygram Investment – European Expansion Coming

MoneyGram and XRP

Ripple has completed the MoneyGram investment as of this morning.  Moneygram has made the announcement that Ripple has completed the final $20 million investment in MoneyGram equity pursuant to Ripple’s original $50 million equity investment commitment made earlier this year. Ripple purchased the newly-issued equity from MoneyGram at $4.10 per share, which represents a significant premium to MoneyGram’s current market price.

This is excellent news to all Ripple believers and XRP holders as we see this partnership push forward and patiently wait for more corridos to be opened to Moneygram to utilize.  Currently, Moneygram is sending 10 percent of its Mexican Peso foreign exchange trading volume through On-Demand Liquidity and has already started transacting in four additional cross-border corridors, including Europe, Australia and the Philippines since the partnership with Ripple was announced in June 2019.

At SWELL 2019, the CEO of Moneygram was on stage with the CEO of Ripple Brad Galringhouse and they talked about the current partnership and where they see it going in the future.  We coved the Moneygram, Ripple interview  The CEO of MoneyGram announced live on stage at SWELL that they will be expanding into 4 more corridors by the end of the year.

Brad Garlinghouse stated:

“Last month, we announced that MoneyGram began using On-Demand Liquidity for payments to the Philippines, and we’re excited to support MoneyGram’s further expansion into Europe and Australia. Digital assets and blockchain technology have the potential to make a tremendous impact on cross-border payments – MoneyGram and Ripple is an example of that,”

 

So what corridors are currently open for MoneyGram to use?

2 open Corridors:

Mexico

Philippines

 

2 NEW Announced Corridors at SWELL by Ripple:

Brazil

Australia

 

Current Landscape looks like this:

Mexico -> United States

Mexico -> Philippines

Mexico -> Australia

Mexico -> Brazil

U.S. -> Philippines

U.S. -> Australia

U.S. -> Mexico

U.S. -> Australia

Philippines -> U.S.

Philippines -> Mexico

Philippines -> Australia

Philippines ->Brazil

Australia -> U.S.

Australia -> Mexico

Australia -> Philippines

Australia -> Brazil

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