The MoneyGram and Ripple alliance has already generated benefits for the XRP ecosystem. According to reports there has been an increase in the volume of cryptocurrency transactions in relation to the Mexican peso.

MoneyGram is one of the largest companies in the world dedicated to the facilitation of money transfers second only to Western Union. The payment platform has a presence in more than 200 countries and over 300,000 agents worldwide.
<h3><strong>MoneyGram And Ripple Announce a Partnership In June</strong></h3>
In June it was revealed that Ripple and <a href="http://global.moneygram.com/">MoneyGram</a> had established an alliance that would bring about facilitation of payments with <a href="https://www.ripple.com/">Ripple’s blockchain technology.</a>

Ripple bought 30 million shares of MoneyGram at a premium price of $4.10 per share with the possibility of acquiring another 20 million in shares next year.

The partnership was huge as it allowed both companies to achieve their target. MoneyGram would be able to take advantage of Ripple’s xRapid solution while <a href="https://www.cryptoknowmics.com/crypto/news/altcoins/ripple/">Ripple XRP</a> would serve as a bridge for cross border payments between fiat and cryptos.

MoneyGram CEO Alex Holmes had referred to the partnership as one that could revolutionize the payment platform on its launch.

«I am very excited to announce today that MoneyGram is active and making transactions on the Ripple platform, xRapid.

We started executing transactions earlier this week, and all signs indicate that this will be a tremendously beneficial relationship for all parties involved. We are literally transferring money in seconds, this is really great &gt;&gt;
<h4><strong>Ripple (XRP) Experiencing Record Trading Volume Due To MoneyGram Transactions</strong></h4>
So far, the collaboration between these companies has shown to be beneficial for the XRP ecosystem.

Breanne Madigan, head of the global institutional team at Ripple, recently commented, that  there has been a significant increase in the total volume of XRP.

«New (and remarkable) data shows that, although the total volume of transactions with XRP decreased by about 65%. The volumes of the XRP/MXN pair in Bitso increased more than 25% during the same period in which MoneyGram payments using XRP in Mexico started. a case of real use that leads to a real increase in volumes «.

This increase in transactions with XRP involving the Mexican peso shows the progress that Ripple is making in the <a href="https://www.cryptoknowmics.com/crypto/the-bank-of-america-to-roll-out-ripples-dlt-based-payment-system/">incorporation of its technology</a>.

This is a good development for Ripple, coming days after the Santander the largest bank in Spain revealed that it will use its platform for sending international payments to the United States.

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 Ripple Alliance With MoneyGram Generates First Results

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

Ripple Alliance With MoneyGram Generates First Results

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