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.
Facebook's David Marcus faced another day of governmental grilling, this time at the hands of the House Financial Services Committee, over the social media giant's plans for its digital currency Libra.
These are the headlines you Need 2 Know for Wednesday, July 17, 2019.
The banking system relies on public trust; unfortunately for Facebook's cryptocurrency ambitions, the social media Goliath doesn't have an abundance of it.
Rep. Tulsi Gabbard (D-Hawaii) adds her own critiques of Facebook's proposed digital currency Libra, and states that it's the responsibility of Congress to potentially break apart tech firms that appear to acquire too much power.
Amid an investigation by Health Canada, CannTrust has halted sales of its cannabis and products. Although CannTrust's regulatory snag does not directly impact U.S. cannabis supply, Cowen analyst Jaret Seiberg said that any turbulence in Canada's nascent industry could be cause for concern for its neighbor to the south.
These are the headlines you Need 2 Know for Tuesday, July 16, 2019.
For the first time, Uber will tie bonuses for it top executives to diversity goals aimed at increasing female and minority representation within the company, the ride-hailing giant announced on Monday.
Cryptocurrency exchange Seed CX has received two virtual currency licenses, better known as a BitLicenses, from the New York State Department of Financial Services.
President Donald Trump Thursday evening decided to share his negative opinions on cryptocurrencies and Facebook's plans for the Libra currency, drawing a backlash among blockchain proponents.
North Carolina is looking to bring to bring Virgin Hyperloop One technology to connect the Research Triangle of Raleigh, Durham, and Chapel Hill with high-speed transportation.
