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).
The big three car companies for GM and Stellantis have agreed to pay striking workers as they spend time on the picket line, according to The Wall Street Journal.
Elon Musk is making a big prediction about artificial intelligence and the jobs market.
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Mariah Carey is facing a second lawsuit claiming copyright infringement over her song, "All I Want For Christmas is You."
Apple posted better-than-expected results for the third quarter but continued to report soft revenue. Cheddar News breaks it all down.
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Mariah Carey, the 'Queen of Christmas,' is teaming up with Victoria's Secret for a new holiday collection.
Stocks jumped Friday after a jobs report showed a higher slowdown in hiring, giving hope to an end in rate hikes.
A new study found greater productivity in companies with a higher gender balance.
