Dallas-based MoneyGram tests digital currency money-transfer with startup Ripple. Dallas-based MoneyGram International Inc. is testing the Utilize of digital currency to move funds with a blockchain startup working to speed up payments.
Companies such as MoneyGram, the world’s second-largest money-transfer business, typically Utilize pre-funded accounts to fulfill customers’ transfers, that can tie up capital.
Startup Ripple’s blockchain technology and digital currency XRP can move money far faster, the companies says in a statement Thursday.
MoneyGram scrapped a deal to sell itself to Chinese financial services giant Ant Financial earlier this 30 days after unsuccessful to beat regulatory approval.
“Ripple is at the forefront of blockchain technology,” Alex Holmes, chief executive officer of MoneyGram, says in the statement.
Kodak eyes digital currency
NEW YORK – Kodak, that traces its roots to the early days of film-based photography, is getting into the digital licensing and cryptocurrency market as fraction of a partnership with WENN Digital.
Blockchain is a ledger where transactions of digital currencies, like bitcoin, are recorded.
Kodak, based in Rochester, New York, founded in 1880, is the latest firm to get in the cryptocurrency market as Bitcoin makes gains.
The Kodak systems going to allow photographers to register work that they could license and then receive payment.
Dropbox is talking to other banks this 30 days to fill additional roles on the IPO, the people said.
Fed-backed digital currency is inevitable
as declared in But things are about to get even wilder: Signs are pointing to the Federal spare beginning to take steps toward issuing its own digital currency.
A government-approved digital $ is inevitable in a world where consumers expect transactions to be completed in milliseconds.
Meanwhile, Venezuela plans to introduce its own digital currency in an effort to prop up its troubled economy.
Pending legislation, such as the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act promises to more expand federal control over digital currencies with criminalizing the concealment of digital currencies or digital currency accounts.
In a world where consumers expect transactions to be completed in milliseconds — and technology has delivered on those expectations — a government-approved digital $ is inevitable.
MoneyGram trials Ripple’s XRP digital currency
Shares in MoneyGram gained on Thursday on break news that the old-school money transfer player has teamed up with Ripple to pilot the blockchain startup’s XRP digital currency in its payments flows.
Over the final day I’ve asked several people close to banks if banks are indeed planning to begin Utilizing Ripple’s token, XRP, in a serious way, that is what investors seem to assume the time they purchas in at the current XRP prices.
They are indeed planning to Utilize xRapid (our XRP liquidity product) in a serious way.
The company too boasts rate transaction times for XRP of 2 to 3 seconds.
“The inefficiencies of universal payments do not just affect banks, they too affect institutions like MoneyGram.
collected by :John Locas