Ripple XRP to Invest 50M in MoneyGram!!! + $ 70 Bitcoin Giveaway
Today we have four really awesome news segments to share with you. So let’s have a brief look at what they are now.
First up we have Ripple announcing a partnership with MoneyGram, the second-largest money transfer service in the world, in terms of cross-border payments and foreign exchange settlement. Next, following the new partnership with MoneyGram, Ripple will invest up to $50 million in exchange for equity. Meanwhile, in addition to this, Nouriel Roubini, a noted economist, and cryptocurrency skeptic, says Facebook’s GlobalCoin has ‘Nothing to Do With Crypto’. However, the ability to diversify Facebook’s mostly ad-driven revenue makes Wall Street extremely bullish on Facebook’s cryptocurrency. And the last news item, multi-Billion dollar Crypto Firm believes that Bitcoin can be the hedge for the Global Crisis. Now, if you want to find out all the details, please stay with me until the very end of this video.
Now for this week, we are going to give away 70$ worth of Bitcoin. How can you be the winner? All you need to do is to like, comment, and subscribe to go in the draw to win. The winner will be picked randomly this Saturday. We will draw a video from this week and then draw a winner from the video. So if you want to be our lucky winner this week make sure you hit the like, subscribe button and comment right below.
The Market Today
Now, before discussing all the news, we will have a look at today’s market. Looks like we have a mixed market mainly in the greens today. Bitcoin is increasing by 1.87%, while Ethereum’s Ether is falling slightly by 0.05%, and Ripple’s XRP is gaining by 4.81%, which is the biggest gain in top 10. Now in the top 20, 7 out of 10 cryptocurrencies have a positive change, while IOTA and NEO decrease by 2.78% and 1.69% respectively.
Ripple Partners with MoneyGram
Let’s look at the first news item for today. As you guys can see here, Ripple will become the partner of the second-largest money transfer service in the world, MoneyGram. Following this partnership, Ripple and MoneyGram will cooperate in terms of cross-border payments and foreign exchange settlement. To do this, they will use xRapid, the company’s XRP-powered settlement service.
Brad Garlinghouse, the current CEO of Ripple, tweeted:
An industry defining milestone: together, @MoneyGram and @Ripple are solving the challenges with cross-border payments using the speed and efficiency of #XRP.” This is really a great step forward guys.
Alex Holmes, the MoneyGram CEO, said:
Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.
With this news, the price of XRP surged 6.28%.
Ripple Invests Up To 50 Million in the two-year Partnership
According to a report by Cointelegraph, Ripple will invest up to 50 million dollars in the two-year partnership with MoneyGram in exchange for equity. With the use of Ripple’s xRapid liquidity product, MoneyGram users can now send money in one currency, and the new system will automatically convert into the destination currency. I believe that with this new method, xRapid can purportedly settle such transactions faster than with fiat currencies or other major digital assets.
Facebook’s Global Coin is Not Really a Cryptocurrency
Let’s move to the third news item. Per a report by Coindesk, Nouriel Roubini, an economist and cryptocurrency skeptic, said that Facebook’s GlobalCoin is not really a cryptocurrency. He stated:
It has nothing to do with blockchain. Fully private, controlled, centralized, verified and authorized by a small number of permissioned nodes. So what is crypto or blockchain about it? None.
While many in the crypto community have also criticized those calling Facebook’s token a cryptocurrency, Nouriel Roubini denied that he shared any common ground with the “crypto faithful.” He concluded:
But in my opinion, public decentralized trustless blockchain is a pipe dream … so we disagree on 99% of [the] substance.
On the other hand, Wall Street Is extremely bullish on Facebook’s Cryptocurrency, as reported by U Today. Why are these people so optimistic about Facebook? Because they believe that Facebook’s ad-driven revenue has the ability to diversify.
While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, Mike Novogratz and Anthony Pompliano look at the bright side of this story. Moreover, SunTrust, MoffettNathanson, Bank of America also shows that they stick with a “buy” rating on Facebook. MoffettNathanson:
Believes a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances.
Can Bitcoin can be the hedge for our future Global Crisis?
Now let’s come to the last interesting news of today. News BTC reported that a multi-Billion dollar Crypto Firm believes that Bitcoin can be the hedge for our future Global Crisis. To support this, Grayscale, a crypto famous research department, looks to three primary facets of Bitcoin’s existence: store of value, spending viability, and growth possibility. It has looked to Bitcoin and has done very well for itself during Greece’s debt-fueled financial crisis in 2015, China’s market collapse in 2015 and 2016, Brexit, and recent Trade war.
So guys, what do you think about the result of the Ripple-MoneyGram partnership?
Will you support Facebook’s cryptocurrency or not?
Do you have the same belief as Wall Street economists?
And do you think that Bitcoin is really a good hedge for our future global crisis?
Let me know what you guys think in the comments below! And remember to like, comment, and subscribe our channel to go in the draw to win $70 worth of Bitcoin tokens. It’s Cindy with CryptoPig. I’ll see you all tomorrow!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.