MoneyGram, one of the world’s largest money transfer companies recently announced a partnership tagged innovative with Brightwell, a Financial Technology (FinTech) company that specifies in aiding the payment of workers globally.
Ripple’s Partnership with MoneyGram Compared to Others
It is widely known among the crypto community that Ripple, the US-based blockchain tech sealed its arguably biggest and most talked about the partnership with the payment giant, MoneyGram sometimes in Mid-2019.
The partnership costs Ripple a whopping sum of 50 Million US Dollars, and it’s contracted to last for 2 years. The most exciting about this partnership for XRP community members is the clause in the deal that promised the full use of the digital token XRP, which is expected to increase the reach and liquidity of the Ripple owned cryptocurrency.
After Partnering with Ripple, MoneyGram has had partnerships sealed with related financial institutions. The latest partnership is as well significant, but it seems not as much as Ripple’s that has its digital token XRP involved.
How can Ripple’s XRP Benefit from MoneyGram Brightwell Partnership?
The Recent MoneyGram partnership with Brightwell is quite a big deal, considering the involvement of Brightwell in money transfer operations across the globe.
According to the report, the collaboration will open the door for crew members to send their funds digitally using MoneyGram within the Brightwell app. This will make it a seamless way for the crews to support their family and friends across over 200 countries in the world.
Obviously, the use of Ripple’s digital token XRP was not mentioned, which could end up not being involved afterward, but the fact that the partnership between Ripple and MoneyGram promises the use of XRP makes it somewhat possible to open the digital token to loads of Brightwell customers across the globe.
Another point to note, which improves the possibility of involving XRP as a tool to make MoneyGram and Brightwell’s partnership successful can be considered in the statement below:
As inferred from the report, “The partnership enables crew members to digitally send their money home using MoneyGram within the Brightwell app.”
Considering what MoneyGram CEO Alex Holmes clamored about Ripple and its digital token XRP, during an interview with the First Move anchor, Julia Chatterley on CNN some hours ago, the possible involvement of XRP in such a deal cannot be thrown underfoot.
During the interview on CNN, Holmes acknowledged Ripple’s ability to command money across borders in a magical manner, with instant funds transfer without trapped liquidity. This statement somewhat speaks more of XRP’s fast, scalable and cheaper transaction fees.
Inconclusion, it is yet to be ascertained whether XRP will be involved in the MoneyGram and Brightwell’s recently announced partnership, but the points stated above make it somehow possible.
Seeing XRP get involved in most cross-border transfers is a big dream of virtually all XRP enthusiasts, and the eventual involvement of XRP in the sealed partnership would mean well for such dreams to come to reality.