Ripple has announced a new partnership with MoneyGram, a leading cross-border payment provider. The partnership aims to enhance the efficiency and reduce the cost of cross-border payments, utilizing Ripple's blockchain technology.
Partnership Details
Under the terms of the partnership, Ripple will provide MoneyGram with access to its blockchain network, allowing MoneyGram to settle transactions more quickly and at a lower cost. Additionally, Ripple will invest in MoneyGram, further solidifying its commitment to the partnership.
The partnership is expected to reduce transaction costs by up to 70%, making cross-border payments more accessible and affordable for individuals and businesses.
'We believe that Ripple's technology has the potential to revolutionize the cross-border payment space,' said Brad Garlinghouse, CEO of Ripple.