Ripple Completes $50 Million Investment on MoneyGram Equity

[Poojachaudhary]

Ripple, the company that provides innovative money transfer services, has completed its $50 million investment in MoneyGram. The company announced on November 25 that it has invested the final $20 million after initially plugging $30 million back in June this year.

Source>>Crypto knowmics

As per the announcement, Ripple bought the newly-issued equity from MoneyGram at a price of $4.10 per share. This represents a significant premium to MoneyGram's current market price. This new funding will facilitate MoneyGram's operations as the firm continues to raise volume and use of On-Demand Liquidity (formerly known as xRapid); Ripple's product that leverages the digital asset XRP to send money globally, instantly and reliably for at a negligible cost.