Ripple Takes $50 Million Stake in MoneyGram in Push to Deploy XRP
Under the terms of the deal, Ripple will pay $4.10 cents a share to acquire an 8% to 10% stake in MoneyGram. This translates into a $30 million investment, and also gives MoneyGram the option for another $20 million cash infusion in the next two years.
For San Francisco-based Ripple, the deal will provide an unprecedented opportunity to make the case that its product called X-Rapid, which allows for the transfer of XRP, is superior for moving money across borders.
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