MoneyGram and Ripple testing bank transfers of the XRP cryptocurrency. Fortune Staff Writer Jeff John Roberts explains why this partnership is so significant.
"Unlike Bitcoin or Ethereum, it (Ripple) is centrally controlled," explains Roberts. "This is Ripple's moment of truth because people are speculating on XRP." With transaction fees so high for Bitcoin, some investors are seeing Ripple as a good alternative.
"Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid," MoneyGram CEO Alex Holmes said Thursday. In the release announcing this partnership, both Ripple and MoneyGram promoted the efficiency and speed of this digital currency.
Aerospace startup Atomos Space, which is developing a series of orbital transfer vehicles to help reposition satellites in space, recently closed on a $16 million financing round. CEO Vanessa Clark and COO William Kowalski joined Cheddar News to discuss the company's operations ahead of its launch.
The legacy automaker Ford says its keeping sustainability in mind in its return to the F1 racing circuit and its future EV plans following a turbulent quarter.
The Justice Department has been scrutinizing a controversial artificial intelligence tool used by a Pittsburgh-area child protective services agency following concerns that the tool could lead to discrimination against families with disabilities, The Associated Press has learned.
The U.S. Treasury Department has changed the standard for what kind of electric vehicles qualify for a federal tax benefit under the Inflation Reduction Act.