MoneyGram, the cross-border payment system backed by Ripple, will aim to become a leader in carrying remittances for the Indian market.
Ripple Backed MoneyGram Aims for Bigger Share of the Indian Remittances Market
After forming a strategic partnership with EbixCash, MoneyGram will aim to grab the biggest market share in India, reported The Hindu Business Line. Cross-border payment systems help the Indian economy connect to worldwide services, and MoneyGram aims for a larger part of that market.
But so far MoneyGram has met problems spreading to the Indian market, commented Alex Holmes, chairman, and CEO of MoneyGram. The partnership with EbixCash will solve the “last mile” problem of money transfers. EbixCash is one of the vastest fintech networks, encompassing multiple preloaded, utility and general payment services. MoneyGram is one of its latest partners, and thus connects India’s payment ecosystem with Ripple, Inc.
The San-Francisco based firm, which invested $50 million MoneyGram in the summer of 2019, continuing its expansion to link the space of cryptocurrencies with regular payment systems. MoneyGram is still in the experimental stages of using RippleNet’s ecosystem and has announced plans to utilize the On-Demand Liquidity system. If this technological shift happens, MoneyGram will be the company best positioned to deliver the Ripple protocol and show its benefits in real-world usage.
India Boosts Crypto Usage, Electronic Wallets After War on Cash
For now, MoneyGram will capitalize on India’s increased usage of electronic wallets and fintech payment solutions. India has also become one of the markets readily adopting digital asset solutions, but those are competing with local usage of cash, as well as local payment systems.
India has also rejected the usage of Facebook’s Libra, and the market may be open for competitors. For now, Libra is not a threat, as the asset has not been issued yet, and Ripple’s solution may be the first distributed solution to arrive on the market.
Despite the stagnant XRP prices, Ripple continues to position itself as a fintech solution provider, potentially also launching its own IPO in the near future. But MoneyGram remains its flagship business, as it grabs a large share of international remittances and capitalizes on the well-known brand.
The price of XRP has stabilized around $0.22, on relatively small trading volumes of $1.6 billion in 24 hours. XRP has awaited the verdict on its status as either a form of security or another type of asset. This has kept investor interest relatively low, despite previous expectations XRP usage would pick up as Ripple takes a share of the global remittances market.
What do you think about MoneyGram’s move on the Indian market? Share your thoughts in the comments section below!
The post appeared first on Bitcoinist.com. origin »
Ripple?s key partner MoneyGram will now allow Egyptians to receive remittances directly into their bank account after partnering up with Suez Canal Bank
Coinspeaker Ripple’s Partner MoneyGram Expands in India, Will It Affect XRP Price?MoneyGram is starting 2020 with expansion plans into India. Through Ebix the payment giant will reach many more customers in the Indian market.
Brad Garlinghouse, the CEO of San Francisco-headquartered Ripple has responded to the growing criticism of XRP given the third-largest altcoin has failed to see a significant price rally in 2019 even when the market recorded double-digit growth.
Ripple has been actively pushing its technology using the digital asset, XRP in the traditional market. With traditional money transfer companies like MoneyGram adopting XRP, XRP/MXN volume saw a noticeable spike on Bitso by 25%.
XRP has not been having a great year, in terms of price as the market reports negative YTD returns for Ripple’s native token. However, XRP has been on an adoption spree since the beginning of the year, Ripple’s recent partnership with MoneyGram being an illustrious example.
XRP market in Mexico is growing, reveals the latest data shared by Breanne Madigan, the head of Global Institutional Markets at Ripple and former Goldman Sachs executive. Madigan took to Twitter to share “new and notable” data about XRP volume.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex Presently, the XRP cryptocurrency is the third one on the market in terms of capitalization, which is $12. 8 billion. The XRP is currently trading at $0.
Although Ripple has been pioneering the drive to bridge traditional commerce with crypto, several XRP enthusiasts began doubting the coin’s worth. But to everyone’s surprise, the recent MoneyGram partnership has delivered a significant improvement to XRP’s liquidity, especially in the Mexican market.
Something really good just happened to Ripple, and it’s bound to propel the global company to the next level in its journey to foster mass adoption of its various global payments solutions. On July 19th, 2019, a company closely associated with Ripple partnered with another entity that might have access to a large customer base […]
The post Ripple Scores More Market Points As Sentbe Partners With MoneyGram appeared first on ZyCrypto.
Ripple has recently closed a deal with MoneyGram in which the company is expected to be using the xRapid product to make cross-border transactions through XRP. At the same time, the settlement company is expected to buy $30 million worth of shares for a price of $4.
Ripple, the creator of the RippleNet and the XRP tokens (which are currently the 3rd largest cryptocurrency by market cap) are always on the lookout for new clients and partnerships. Because of this, the company has recently announced a new partnership with a company called MoneyGram.
Ripple has just inked a partnership with Moneygram in its quest to expand its market reach. The company has invested around $50 million in Moneygram. In so doing, Ripple means to shore up the adoption of XRP and take the crypto mainstream, especially considering that Moneygram serves a large user base that would benefit from […]
The post Partnership Triggers Over 170% Surge For MoneyGram But Ripple’s XRP Still In Decline appeared first on ZyCrypto.
XRP, the third largest cryptocurrency by market cap has gained momentum which is coming 24 hours after Ripple’s announcement of its partnership with MoneyGram, an international payments service.
XRP has been performing tremendously over the past weeks and has been the most talked about Cryptocurrency, this buzz was early due to the announcement of the launch of its new product, xRapid which already has about 10 companies like Moneygram, Western Union and others, that all joined in it’s beta testing phase.
Morgan Stanley, the $1. 8 trillion banking giant, has applied to launch two exchange-traded funds (ETFs) tracking the prices of Bitcoin and Solana with the US Securities and Exchange Commission (SEC).
XRP outpaces Bitcoin and Ethereum as U.S. spot ETFs top $1b in assets, XRPL DEX liquidity surges, exchange balances sink, and futures open interest hits multi-month highs. XRP (XRP) has outperformed the top 10 cryptocurrencies by market capitalization in early…
XRP has emerged as the best-performing asset among the top 10 cryptocurrencies by market capitalization to start 2026, outpacing market leaders Bitcoin and Ethereum. According to data from CryptoSlate, XRP has jumped by 28% since the start of the year to $2.
Crypto prices lost momentum today, January 7, as investors started to book profits. Bitcoin retreated to $92,670 after hitting a key resistance level at $94,500. The Crypto Fear and Greed Index has moved to near 50, while the Altcoin Season Index rose to 23.
XRP price rose to $2. 40 as altcoins rally in early 2026. Bulls could extend gains amid broader market momentum. Several catalysts might bolster the Ripple Army. XRP, the cryptocurrency token of Ripple, has experienced a remarkable double-digit surge, with the price climbing to $2.
Crypto analyst Charting Guy has predicted that the worst may be over for Dogecoin, with a potential rally to $0. 8 on the cards. This comes as meme coins like DOGE dominate the crypto market at the start of this new year.
