MoneyGram Signs Deal to Work with Currency Startup Ripple

Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by kumarski on Thursday January 11, 2018 @01:19PM (#16126252)

Same question: Are they using XRP?

Answer: No.

Brad Garlinghouse reminds me so much of Dick Costolo. He'll keep allowing Ripple Deals(bots) to increase the valuation of the company unwarranted.

The banks and no-one I've talked to in fintech has indicated to me any serious adoption of XRP.

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by shepardrtc on Thursday January 11, 2018 @01:22PM (#16126291)

What? From a Fortune article about this [1]:

> The partnership will see MoneyGram pilot the use of XRP through a new Ripple service, called xRapid

[1] http://fortune.com/2018/01/11/ripple-moneygram-xrp-cryptocur...

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by free-trampolin on Thursday January 11, 2018 @01:26PM (#16126361)

Wrong. They use Ripple's xRapid which utilizes XRP. This is (after cuallix) the second company that uses XRP for money transfer.

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by mkirklions on Thursday January 11, 2018 @01:42PM (#16126503)

Thanks for posting this, this is my understanding.

Ripple is the company that controls 61% of the worlds XRP. XRP is the medium to move money.

While I personally dont like centralized currency, this is how ripple works. Ripple basically decides the price of their own currency since they have sooo much supply.

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by free-trampolin on Thursday January 11, 2018 @03:29PM (#16127518)

Unlike other fraudelend coin startups, Ripple made its self subject to regulations. They cannot simply put all their XRP onto the open market. The 55bn locked in escrow are meant to be sold to institutions partnering Ripple, as other comments have already stated. Regulations aren't a bad thing. They are mandatory and prevent us from being scammed in many cases.

The only thing you can blame Ripple for is the insane amount of ripples their founders are holding.

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by shepardrtc on Thursday January 11, 2018 @01:57PM (#16126653)

Wrong. They locked away 55 billion XRP and are releasing a certain amount monthly for purchase by investors and institutions. If that XRP is not purchased, it goes back into escrow.

https://ripple.com/insights/ripple-escrows-55-billion-xrp-fo...

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