MoneyGram to Pilot Ripple’s XRP Token

The international money-remittance firm, MoneyGram, is partnering with Ripple to test the startup’s XRP token for international payments. According to a press release, MoneyGram will test Ripple’s xRapid service due to its claimed speed and cost efficiency. The release noted that XRP transaction fees are significantly less than those of the Bitcoin network. Ripple chief executive, Brad Garlinghouse, said:

“The inefficiencies of global payments don’t just affect banks, they also affect institutions like MoneyGram. By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information.”

 

Data provided by coindesk.com