- Ripple’s CEO Debunks Rumor Surrounding XRP’S Usefulness
- Ripple’s Partnership with MoneyGram Will Lead to Future Benefits
Over the past few weeks, there has been a lot of tussle on Twitter with the XRP community. XRP which is the third-largest cryptocurrency by market cap have been contending strongly with other coins in the market, many other cryptocurrency communities like the Bitcoin’s Maximalists believes that XRP has few real-world use cases, which does not hold ground as the altcoin’s market cap comes in at over $10 billion.
So far, Ripple is not relenting, the CEO of the San Francisco-headquartered FinTech company, a firm in charge of maintaining the XRP Ledger and retaining many of the tokens to be used and distributed to users recently announced that XRP has sustainability, the CEO states that the coin has what he termed as “proof in the puddling.”
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.220
Recently, the usefulness of XRP is being questioned, and the chief executive of Ripple Lab, Brad Garlinghouse, recently wrote that doubters would be remiss the doubt the benefits that XRP has over other FinTech systems. Defending his statement, Garlinghouse used MoneyGram as an example, MoneyGram is one of the world’s biggest money payment services provider, who is allegedly “experiencing real-time [transaction] settlement (around 60 seconds) in U.S. dollars to Mexican pesos.” This is achieved through the Ripple (XRP) blockchain, powered by the rapid payments of the altcoin.
Ripple’s Partnership with MoneyGram Will Lead to Future Benefits
The CEO took to his Twitter page, he went thus: “Many have doubted the benefits of #XRP, but you don’t have to take my word for it. The proof is in the pudding: @MoneyGram is experiencing real-time settlement (~60 seconds) in USD to Mexican pesos. pre-funded accounts will become a thing of the past.”
Meanwhile, @ashgoblue on Twitter stated: “ICYMI – in today’s @MoneyGram earnings call, CEO @walexholmes announced plans to expand the use of Ripple’s on-demand liquidity to new corridors before EOY. “Our partnership with Ripple will be a competitive differentiator in the months and years ahead.” This system can be attained with the influence of the partnership the firms have established.
At the beginning of this year, Ripple invested $30 million for a 10% stake, enabling MoneyGram to hold the right to ask for another $20 million from Ripple Labs anytime over the next two years. The Partnership between Ripple and MoneyGram was billed as a way to utilize xRapid, Ripple’s solution for liquidity that uses XRP directly as a “real-time bridge between the sending and receiving currencies.”