Ripple and MoneyGram have become tangled partners in the payment industry they both arguably govern. Ripple’s $50 Million investment in MoneyGram means the success and expansion of the latter is a blessing for the former.
The recently sealed partnership between MoneyGram and Sentbe, one of the largest Fintech companies in South Korea is a good means for Ripple XRP’s expansion.
A couple of weeks ago, Ripple announced its strategic partnership with MoneyGram, the second largest payment company in the world. This popular collaboration promises to make XRP functional in full scale.
This is also expected to maximize the exposure of XRP use cases in the world of payment, which would eventually increase the market value of the digital currency. The string attaching Ripple and MoneyGram is capable of making it a reality.
MoneyGram Partnership with Sentbe, Good News for Ripple and Its Token XRP
The intent of the partnership between Sentbe and MoneyGram is actually good for XRP to thrive. Sentbe is South-Korean based and has already overseen billions of transactions in Korean Won as of July 2019.
The aim of the partnership goes well with MoneyGram’s target of giving customers the means of having options of digital currency transfers at their disposal.
Sentbe on the other hand is a financial technology startup that makes cross-border transaction faster, easier and cheaper via advanced technology.
Yogesh Sangle, the head of APAC and South Asia at MoneyGram expressed his delight in the collaboration he tagged as strategic. He stressed that it has been the goal of the company to reach out to South Korea with its product, in order to enhance its digital transformation in the region.
He said “”Enhancing our product offering in South Korea is a strategic move that accelerates our digital transformation in the region,”
Sentbe’s Existing Relationship with Coinone, a Ripple Partner
The recent partnership would be a win-win for Ripple and its digital token XRP, considering the existing relationship between Sentbe and Coinone, a Ripple’s in-house partner.
A report has it that Sentbe, the new MoneyGram’s partner was originally invested in by Coinone, a South Korean based exchange that deals in cryptocurrency and foreign remittance.
— WrathofKahneman (@WKahneman) July 20, 2019
The road seems getting clearer for Ripple XRP to attain its targeted greater height. There will be wider range for the digital currency to prove its utilities across the globe.
How Ripple XRP Price Reacted to the Partnership in the Market
Passionate XRP community members believe that the ground works of Ripple to enhance the growth of XRP market price will soon payoff.
As soon as the announcement of the partnership was made, Ripple XRP experienced about 3% price spike in the market, and it has since not retracted from growing. At the time of filing this report, XRP is trading at $0.328345, with about 4% price increase in the last 24 hours.