The head of MoneyGram confirmed today that the global money transfer company has been using XRP cryptocurrency to exchange U.S. dollars and Mexican pesos extensively since July.
WASHINGTON—Sometimes the best scheduling comes down to luck. Day Three of the four-day conference known as Fintech Week was clearly scheduled to keep attendees in the vicinity through at least Wednesday. Securities and Exchange Commission Chairman Jay Clayton, Ripple CEO Brad Garlinghouse, and Ethereum co-founder Joe Lubin were all on the scene at the Showroom on 14th St NW. All the better that, by coincidence, the conference locale was just blocks from the high stakes testimony Mark Zuckerberg was delivering at the same time at the Capitol.
Ripple announced Thursday that it is giving its former CTO more than $260 million to change the way content is paid for on the Web. Ripple’s Xpring initiative to invest in companies building the XRP cryptocurrency ecosystem gave a 1 billion XRP grant to Coil, a micropayments company founded by former Ripple CTO Stefan Thomas.
Ripple has announced a partnership that will bring blockchain technology to MoneyGram, a leading global money transfer firm that operates in more than 200 countries. As part of the deal, Ripple has committed $50 million to MoneyGram, which it can draw on in exchange for equity over the life of the two-year deal.