Western Union Makes An Offer To Purchase Ripple-Partnered MoneyGram – What It Means For XRP

2020-6-3 17:04

According to a recent report by Bloomberg, Western Union, and Ripple’s cross-border payments partner MoneyGram could be merging in the near future. The report cited a source familiar with the matter who stated that Western Union has made an offer to buy MoneyGram.

If the transaction is successful, it would bring together two of the largest money transfer service providers in the United States. Notably, MoneyGram’s stock soared following this news.

This comes after Ripple successfully acquired 10% of MoneyGram’s outstanding common stock after investing $50 million in the company, while MoneyGram in turn agreed to utilize Ripple’s cross-border solutions. Since June last year, the company has been using XRP-powered On-Demand Liquidity (ODL) product to process transactions in the Philippines, Australia, and Europe, and currently conducts 10% of its US-Mexico transactions using ODL.

What Does It Mean For XRP?

With Western Union making an official takeover offer to MoneyGram, XRP enthusiasts are probably wondering what would happen if MoneyGram accepts the offer.

Western Union itself is no huge fan of Ripple’s product suite. The money transfer giant has been testing XRP for remittances but is not completely convinced on the cryptocurrency helping cut transaction costs for the company. Sometime last year, CEO Hikmet Ersek argued that the firm’s tests with XRP had proved to be 5x more expensive than using Western Union’s network.

However, Western Union’s cautious approach with Ripple/XRP is not yet set in stone. In April of this year, researchers at Credit Suisse revealed that Western Union has decided to continue testing Ripple’s technology, although it was not initially bullish about the tech.  

Per Bloomberg, MoneyGram shares surged over 6% on the heels of the Western Union takeover news on June 1, bringing MoneyGram’s valuation to $164 million. The Dallas-based company also has a debt totaling to $878 million. Its total market value stands at around $8.5 billion.

Some observers hope that since Ripple owns 10% of MoneyGram, if and when the deal is officially closed, Western Union could also leverage XRP.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Exchange Union (XUC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.9911 (-100%)

moneygram western union offer report future cited

Источник: zycrypto.com

moneygram western → Результатов: 16


Фото:

Партнер Ripple MoneyGram может стать частью Western Union

Western Union может приобрести компанию MoneyGram, состоящую в стратегическом партнерстве с Ripple. Согласно заявлению Bloomberg, компания по переводу денег Western Union сделала предложение о поглощении партнера Ripple MoneyGram.

2020-6-3 12:33


Фото:

Партнер Ripple может стать частью Western Union

Система денежных переводов Western Union планирует приобрести платежную компанию MoneyGram. Об этом пишет Bloomberg, ссылаясь на полученную от инсайдера информацию. Читайте Bloomchain через любимые соцсети: Telegram, VK, FB  В СМИ отметили, что Western Union и MoneyGram являются двумя крупнейшими компаниями – поставщиками услуг переводов в США.

2020-6-2 08:30


Ripple’s Efforts To Improve Remittance For Customers Elicits KNOMAD Humanitarian Org’s Attention

Ripple has been taking the responsibility of improving international remittance for customers throughout their platform. They’ve already decided to work with MoneyGram and Western Union. Ripple, Dilip RaoGlobal Head of Infrastructure Innovation, To Speak at knomad Migration and Remittances UnitIn Social Protection and Jobs Global Practicecordially invite you to aKNOMAD Seminar Thursday, November 29, 2018 […]

2018-11-30 07:36


Фото:

Cryptocurrency Remittance App Enables Instant Bitcoin Purchase With Credit Cards

Abra, the widely utilized cryptocurrency-based remittance platform, has integrated a functionality that enables its users to purchase bitcoin instantly with both credit and debit cards. Abra’s Cryptocurrency Push On Abra, similar to traditional remittance networks like Western Union and Moneygram, it is possible for users to send cryptocurrencies such as bitcoin and ether to individuals across the world via Abra.

2018-7-17 19:00


Фото:

Western Union Blockchain Patent, What Does This Mean For Ripple XRP

In February of this year, Western Union CEO Hikmet Ersek confirmed that his company was indeed experimenting with Ripple’s products for settling transactions and capital optimisation. This came a month after Ripple, which is striving to become the top-name in global money transfers, announced several high-profile partnerships including the potential tie in with Western Union’s rival, Moneygram.

2018-7-16 06:00


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Price Set To Soar Past $5.85, Predicts Crypto Analyst

Crypto analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, projecting a price surge above $5. 85 based on a confluence of technical indicators and chart patterns. Despite recent market stagnation, the analyst highlights several key factors—including the application of Elliott Wave theory—that suggest a significant upward movement is imminent.

XRP Whales Are Depositing To Exchanges: Price To Drop Further?

On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day.

XRP Bullish Signal: Shark & Whale Population Sharply Growing

On-chain data shows the total number of sharks and whales on the XRP network has seen a sharp increase recently, a sign that could be bullish for the asset’s price. XRP Sharks & Whales Have Witnessed Their Count Go Up Recently According to data from the on-chain analytics firm Santiment, the shark and whale wallets have registered a notable jump over the past five weeks.

XRP Whales Go On $84 Million Buying Spree: Rally To Continue?

On-chain data shows the XRP whales have participated in a large accumulation in the past week, which could be bullish for the asset’s price. XRP Whales Bought More Than 140 Million Tokens Over The Past Week As explained by analyst Ali Martinez in a new post on X, the XRP whales have increased their supply share recently.

XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices. Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery.