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Ripple to Invest Up to $50M in MoneyGram Following New Partnership

Published 06/17/2019, 05:10 PM
Updated 06/17/2019, 05:22 PM
Ripple to Invest Up to $50M in MoneyGram Following New Partnership
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Major money transmission network MoneyGram has entered into a strategic partnership with blockchain-based payments firm Ripple, according to a press release on June 17.

As part of the two-year agreement, the two firms will become partners in cross-border payments and foreign exchange settlements with digital assets. As part of the agreement, MoneyGram will be able to draw up to $50 million dollars from Ripple in exchange for equity.

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