MoneyGram CEO: Ripple is doing a lot of unique things with Blockchain and Crypto

In an interview with CNN, Adam Holmes, CEO of money transfer giant, MoneyGram told that “Ripple is doing a lot of unique things with blockchain and crypto.”

In the interview, Holmes discusses its partnership with Ripple and how it’s pushing boundaries. He said, “Ripple is doing a lot of unique things with blockchain and crypto” to help drive the possibility of real-time cross-border settlements.

“It has been a very nice partnership with Ripple. We have learned a lot together and continue to push boundaries of what can be and it has been a lot of fun for sure,” Holmes added. 

According to the MoneyGram survey on remittances, it has seen a tremendous increase in its user base and app transactions during COVID-19.

• 140% increase in new online customers
• 220% increase in app transactions
• 11 straight months of triple-digit cross-border growth

Also, 70% of respondents sent more money in 2020 as compared to 2019 and 60% of respondents now use digital methods more.

In June 2019, both companies Ripple and MoneyGram announced a strategic partnership. Ripple invested $50 million in MoneyGram by the purchase of common stocks and warrants.

However, in November this year Ripple filed an application with U.S. Securities and Exchange Commission to sell up to 4 million shares of MoneyGram. This 4 million share is approximately 33.33% of its entire stake.