Ripple Success: MoneyGram Made Millions Selling XRP

The crypto market is struggling really hard these days amidst the global disaster called the coronavirus pandemic.

Bitcoin has been losing a lot in value, and the most important digital asset has been dragging the whole crypto market down.

MoneyGram makes an important announcement

MoneyGram is one of the most important partners of Ripple, and the company made some pretty exciting announcements lately.

Amidst this global crisis, the company said that the revenue was of $11.3 million as a result of the partnership mentioned above.

Ripple Labs is paying the remissions company as an incentive to use RippleNet and the operations.

On the other hand, MoneyGram’s revenue continues to decline, and they keep highlighting the fact that Ripple is positive for the company. It began to use ODL in the second quarter of last year, and this was a successful move.

The report stated the following:

“The Company is compensated by Ripple in XRP for developing and bringing liquidity to foreign exchange markets, facilitated by the ODL platform, and providing a reliable level of foreign exchange trading activity.”

It’s been also revealed by the online publication Bitcoinist that “of the $11.3 million received from Ripple, $8.9 million came in the fourth quarter.”

If we consider the overall growth of the Ripple platform, this number has definitely grown higher this year, according to the same online publication.

Ripple’s David Schwartz has a new Bitcoin prediction amidst the coronavirus pandemic

In other news, it’s been recently reported that Ripple chief technology officer David Schwartz responds to a Bitcoin price warning from BTC investor and podcast host Brad Mills.

At the moment of writing this article, Bitcoin is trading in the red, and the coin is priced at $5,849.83.

Also, XRP is trading in the red as well, and Ripple’s digital asset is priced just a little above $0.15.


Coins Mentioned

XRP

XRP

BTC

Bitcoin

Companies Mentioned

CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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Coinbase

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BitStarz

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