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The move states about a partnership for the use of XRP as part of the Money Gram’s cross border payment process.Ripple raises six percent on Monday after the news stated that a San Francisco-based startup has invested $30 million in worldwide money transfer company called as Money Gram .
The progress is considerable as it involves a partnership for the use of XRP and Ripple’s digital currency as part of Money Gram’s cross-border payment process. The pilot run can see Money Gram using XRP to state about blockchain enabled cross-border payments.
Money gram states about Ripple’s on demand liquidity product and Xrapid to make blockchain payments available commercially and it reduces the time and cost of settlement, while maintaining the security level .Money Gram customers making their payments on the international platform will also access to Ripple’s enterprise solution,it enables real-time FX settlement through the cryptocurrency,XRP.
XRapid has become a feature in Ripple’s partnerships with financial companies and banks .It gives the ability to institutions to unlock liquidity and corridors which are multiple and can prefund with one originating account.Ripple stated that it may increase its investment in MoneyGram with purchases of warrants and common stock upto $20 million .Ripple stated it has tested xRapid for the use of speeding up payments,and that it decrease money transfer fees and allows senders and receivers to monitor their payment status .
Ripple states that the blockchain mission can be extensive worldwide.The company states that the top five money transfer companies established worldwide will be implementing Ripples’s XRP token flow systems in their payments systems .Ripple’s MoneyGram Partnership states the plan to become the cypto payment solution not just on the web,but also through brick and mortar transfer providers .