MoneyGram is partnering with Ripple to get into the crypto game.
The money transfer company says the tie-up could help send funds more cheaply and quickly. And one journalist believes the third-largest cryptocurrency offers a benefit over the alternatives.
“Ripple doesn’t have miners,” Fortune writer Jeff John Roberts told Cheddar. “You’re not relying on someone to mine a new block, and pack in the transaction, so they can do it instantly.”
MoneyGram will test using Ripple’s XRP coin to send money over its payment network xRapid. The news helped Ripple rebound after an early morning sell-off, which was in response to South Korean officials saying they are planning to ban trading in crypto. Immediately after the announcement, the price surged about 15 percent.
Roberts said the deal is a moment of truth for Ripple, since many blockchain watchers doubted the coin can get financial institutions to use its system.
He says the value will continue to surge if it can also prove it will lower the cost of money transfers.
For full interview [click here](https://cheddar.com/videos/moneygram-and-ripple-teaming-up).
Mario Veneroso, Kingsview Asset Management Partner, weighs in on the latest economic data and whether the market is pricing in too many rate cuts for the coming year.
Apple has rolled out an update to its operating system this week with a feature called Stolen Device Protection. It makes it a lot harder for phone thieves to access key functions and settings, and users are being urged to turn it on immediately.
The U.S. economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and frustrating price levels.
Alan Becker, CEO and Investment Adviser Representative at Retirement Solutions Group and RSG Investments, shares his thoughts on the latest GDP data plus why he's not sold cryptocurrency as a long-term asset.
The Biden administration wants to ban another type of bank “junk fee," targeting fees that are typically charged by banks when a transaction is declined in real time.
Al Root, senior writer at Barron’s, breaks down everything expected from Tesla’s earnings report, from Elon Musk’s demands from the board to why the market has been looking for affordable EV options.
