Tremendous MoneyGram Progress by 300% Since Partnership with Ripple
MoneyGram, a global money transfer company has witnessed tremendous progress in its stocks after signing a cross border partnership with Ripple. As a result, MoneyGram stocks surged by 350% and are still gaining. Analysts have not yet found a succinct thinking behind the massive gain. However most of them believe that the gain represents Wallstreet’s interest in Ripple.
Mid June this year, MoneyGram entered into the partnership that saw Ripple invest upto $50 million in international money transfer. Consequently making MoneyGram a primary partner of Ripple in cross border payment through digital assets.
Ripple-MoneyGram Partnership Out of the Blues
The contract of the partnership is meant to last an initial 2 year term and will place attention on xRapid. xRapid is a liquidity solution for cross border payment settlement. Meanwhile, note that Wall Street has never been in support of cryptocurrency given the regulatory concerns around the industry. In fact, some of the top bulls of Wall Street have shunned digital currency due to crypto’s potential of disrupting financial markets. However, it seems that a sudden interest is spiraling immediately after the Ripple-MoneyGram collaboration. Hence, the idea of cryptocurrency to Wall Street investors could be welcome.
Increased pro-fiat interest could undoubtedly spike growth of the crypto market and make it widely acceptable. Resulting to high chances of making digital assets a mainstream investment option. Additionally, the adoption could help cryptocurrency navigate the rigorous compliance regulations and numerous regulatory hurdles. Take for instance the regulatory hurdles facing Facebook’s Global coin and the procedures they are taking to have the digital asset acceptable in the mainstream.
There are various moves regulators are adopting to enable the government in monitoring of cryptocurrency activities. For example, the European Union via the European Banking Authority has called for regulation of cryptocurrency; In a move to have the industry adopted into a mainstream sector.
About The Author
Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.
C++ Creator Laments Satoshi Nakamoto’s...Richard M Adrian 13:31 PM 13 Nov 2019
Charlie Lee Claims Satoshi Nakamoto Dona...Olowo 13:29 PM 13 Nov 2019
China’s spending on blockchain technol...Richard M Adrian 13:00 PM 13 Nov 2019
Blizzard Scandal Sets Ethereum’s Heart...Richard M Adrian 12:57 PM 13 Nov 2019
XRP Bulls Attempting a $0.3, But Bears R...Richard M Adrian 12:49 PM 13 Nov 2019
Facebook Pay: Facebook Just Rolled Out a...Richard M Adrian 12:41 PM 13 Nov 2019
Cryptoknowmics Team Lands In Singapore f...Sandeep Kumar Mishra 10:32 AM 13 Nov 2019