Blockchain company Ripple announced an investment in and partnership with MoneyGram International Inc. MGI, -2.68% Monday afternoon, sending MoneyGram shares soaring more than 100%. Ripple, which is known for its XRP XRPUSD, -0.29% cryptocurrency and blockchain technology, agreed to purchase $30 million worth of freshly created MoneyGram shares at $4.10 apiece, and can purchase another $20 million more at its discretion at a minimum of $4.10. MoneyGram shares closed Monday at $1.
45, but exploded higher after the announcement, recently topping $3 in after-hours trading. The cost of an XRP coin jumped more than 5% immediately after the announcement. MoneyGram will use Ripple's XRP technology to handle cross-border transfers of digital funds for at least two years under the deal.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BLOCKCHAIN IN BANKING: An inside look at four banks' early blockchain successes and failures[NEW REPORT] Blockchain in Banking: Business Insider Intelligence explores early blockchain implementations at four major banks, identifying the lessons these wins — and losses — have for the rest of the industry:
Source: BusinessInsider - 🏆 729. / 51 Read more »
Goldman Sachs is reportedly combining four private-investing units with $140 billion in total assetsThe newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its stagnant stock price. Sounds like an Amazing idea. You should only have different divisions once the division is directly managing over a trillion dollars. Then it might be big enough to warrant further management. 😄😄😄 9 Wall Street Execs Who Cashed In on the Crisis. Meet the moguls who made out like bandits. (NO JAIL TIME) BIG FAT BONUSES.!! 2008.!! TAX CUTS TO THE RICH DON'T WORK!! WHEN YOU DON'T PUT THESE SOB'S IN JAIL YOU GET MORE OF THE SAME.!!
Source: CNBC - 🏆 12. / 72 Read more »