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.
Tesla and SpaceX CEO Elon Musk on Sunday said that his companies are on track to build and ship approximately 1,200 direly-needed ventilators as soon as this week.
The New York Stock Exchange’s famously hectic trading floor was dead quiet this morning as it opened for the first time in its history without traders.
Streaming video companies like YouTube, Netflix, and Amazon have all agreed to reduce the quality of their streaming videos in Europe in order to reduce the strain on Internet bandwidth during the coronavirus pandemic.
GM and Tesla are among the top U.S. automakers that are looking to potentially switch over stalled auto production into the manufacturing of badly needed medical ventilators amid the coronavirus crisis.
Square received conditional approval from the Federal Deposit Insurance Corporation (FDIC) late Wednesday to launch an independent bank focused on providing loans to small businesses – at a time when they’ll surely need them most.
The bank will continue to pay branch employees for their regularly scheduled hours even if they are affected by reduced hours, branch closures, or asked to stay home, the letter said. It is also giving branch employees two additional paid vacation days.
Square is making a supportive gesture to business customers going through financial pain due to the effects of social distancing in the time of COVID-19.
These are the headlines you Need 2 Know for Wednesday, March 18, 2020.
These are the headlines you Need 2 Know for Tuesday, March 17, 2020.
The Small Business Grants Program, revealed in a blog post on Tuesday morning, was created to keep workers working, help with rent costs, connect with more customers, cover operational costs. (Photo by Joe Raedle/Getty Images)
