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.
As the pandemic recedes, ride-hailing apps are back in full swing, but it hasn't come without a price. Uber and Lyft are both facing historic driver shortages. More than half of Uber and Lyft drivers stopped driving during the pandemic, leading to longer wait times and surging prices. For more on this Christof Baumbach, CEO, ride-hailing app, Wingz joined Cheddar's 'Fast Forward: Life After Covid-19.'
