The service will allow customers to use tokens for cross-border transfers and reduce transaction costs
The last 5 days turned out to be very sad for Ripple and his investors. In late December or early January, the coin turned its creators into billionaires, and investors bought a considerable income, but after that, its price began to fall … exactly until today!
The reason for the sharp jump of 30% is that the popular payment service MoneyGram announced a partnership with Ripple. This company includes 350,000 agents around the globe and is one of the world’s largest money transfer companies. The only Western Union is ahead of it. After this news, the coin seemed to break from the chain, stirring up its investors and bringing them another “portion” of profits.
The service will allow its customers to use tokens for cross-border transfers and a noticeable reduction in transaction costs. In addition, the CEO of MoneyGram Alex Holmes sincerely hopes that this will bring customer service to a new level, allowing them to make and monitor money transfers in real time.
After this news spread over the network, the Ripple course began to grow right before our eyes.
The main exchanges for Ripple are still the South Korean exchanges. For example, Bithumb accounts for 33% of the total world trade volume with this token, and on Coinone – 11%.
It is also worth noting that the shares of MoneyGram also improved their positions by 6.6%.
It is too early to say whether the dynamics of the token will be positive in the future, but the fact that already 3 of the 5 largest companies, whose main activity is money transfers, will begin to use Ripple this year. In addition, you should not discount hundreds of banks that already use or plan to use XRP in cash transactions.