BTC Trading Inc Review: XRP, Ripple, and Moneygram

The CEO of Ripple, Brad Garlinghouse, recently stated that the company is trying to look into multiple acquisitions and investments following the partnership deal worth $30 million with MoneyGram last June 2019. Companies like BTC Trading Inc review the agreement for their clients.

As reported by Yahoo! Finance last August 9, 2019, there was an announcement that Ripple’s partnership with MoneyGram saw its purchase at 10% state in its entity. There is a choice to increase their investment further over $20 million down the road in a couple of years. You should know that MoneyGram is the second-largest remittance firm in the world. 

MoneyGram will start using xRapid

On August 3, MoneyGram officially started using Ripple’s liquidity product called xRapid. It is the main requirement of their closing deal of $30 million. The CEO of MoneyGram, Alex Holmes, revealed this during their company’s earnings call for the second quarter in the first week of this month.

The xRapid product will use the token of XRP to accommodate the instant money settlement sent from a particular currency to the other destination currency. This method is a different practice from the majority of Ripple’s other clients like Standard Chartered, American Express, and Santander.

According to his recent interview with Yahoo! Finance article, Mr. Garlinghouse declined the belief that Ripple supposedly got reluctant to pay a premium on the shares of MoneyGram. This claim was alleged to ensure that the firm will surely adapt to its technology. Garlinghouse also stated that he wouldn’t distinguish it as an inducement and assured that they are getting more people to sign up and they value them. He said that when they need to accelerate it, they have to do things that might be assumed and characterized as a form of inducement, which is not the case.

The CEO of Ripple also revealed that their company paid quite a high price to close their deal. This fact was because Thomas H. Lee Partners, a private equity firm, was reluctant to sell at its market values. Moneygram’s shares had dramatically dropped by 80% in the last year, leading to their partnership and surged high at 168% after that.  

“This is an important deal”

One of the most talked-about partnerships with Moneygram constitutes one of the pioneer cases to use the crypto assets in scale production, Garlinghouse claimed. The CEO said how big of a deal it is and if they were to bet now, MoneyGram deal will have a significant impact. It would have an even more substantial effect on the market of cryptocurrency more than Libra white paper in just a year.

Finance firms like BTC Trading Inc review the xRapid surges up to 170% between the first and second quarters of the year 2019— ways ahead of Moneygram’s development. Their CEO predicted that xRapid would hit at least $1 billion volume by the year 2020.

Where Ripple is Now

According to reports, Ripple will increase its XRP sales quarterly by over 48% in 2019’s second quarter and selling tokens worth $251.51 million. This kind of growth is good news for Ripple investors because experts in BTC Trading Inc review that XRP is expected to overcome Bitcoin in the coming years.

 

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