Ripple entered into a partnership with MoneyGram. The XRP course fired

Ripple and MoneyGram announced a partnership, under which the latter company will start using the Ripple platform and cryptocurrency - XRP - for financial settlements. This is to significantly speed up transactions. After this news, both the MoneyGram and XRP stock prices fired.

Shares MoneyGram, which is the second largest company dealing in financial transfers, grew by 13 percent. after Thursday's information about partnership with Ripple. In turn, the XRP cryptocurrency, being part of the Ripple platform, grew on Thursday by 2.42%, but on Friday morning it gained over 20%.

In the chart below you can see how the MoneyGram exchange rate jumped together with the information about the partnership - at the peak of the company's price on Thursday it was necessary to pay 13.5 dollars, at the end of the session the price stopped at just over 12 dollars:

In turn, the Ripple rally lasts all the time. At first, after informing about cooperation with MoneyGram, Ripple grew to the level of 2 dollars, but it quickly pierced it. Currently, XRP costs $ 2.1:

See also: Goldman Sachs with optimism about cryptocurrencies. "They can be a form of real money"

Ripple raises quotations of transfer companies
Earlier, Western Union shares similarly increased after information that the company was to enter into partnership with XRP. Ultimately, however, these reports have not been confirmed, although Ripple claims to have recently signed contracts with three of the top five cash transfer companies - but it has not been reported with whom.

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• Problems with payments do not affect only banks, but also companies such as MoneyGram - commented Ripple Brad Garlinghouse CEO. He added that "digital assets like XRP help to make transactions in three seconds or less". - Thanks to this, customers can transfer money as soon as information - Garlinghouse emphasized.

In turn, MoneyGram CEO Alex Holmes said in a statement about cooperation that blockchain "changes business conditions every day" and Ripple is at the forefront of this change. "We hope it will increase productivity and improve MoneyGram services," he said.

In 2016, MoneyGram made international transfers worth almost USD 600 billion.