Ripple buys 8-10% of Moneygram

Ripple paid $4.10 per share to buy out somewhere between 8-10% of moneygram depending on how much additional cash infusion Moneygram needs over the next two years. This move was made to ensure at least two years of use for X-rapid and XRP with Moneygram with the hopes of convincing more banks and financial institutions to eventually come on board. The $4.10 paid for Moneygram was more than twice the $1.50 Moneygram shares had been selling at but still far less than the $18 per share that Ant Financial offered Moneygram back in 2017.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s