News Formal

Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

MoneyGram is up over 130% in after hours trade. Here's why:

Blockchain company Ripple announced an investment in and partnership with MoneyGram International Inc. MGI, -2.68% Monday afternoon, sending MoneyGram shares soaring more than 100%. Ripple, which is known for its XRP XRPUSD, -0.29% cryptocurrency and blockchain technology, agreed to purchase $30 million worth of freshly created MoneyGram shares at $4.10 apiece, and can purchase another $20 million more at its discretion at a minimum of $4.10. MoneyGram shares closed Monday at $1.

45, but exploded higher after the announcement, recently topping $3 in after-hours trading. The cost of an XRP coin jumped more than 5% immediately after the announcement. MoneyGram will use Ripple's XRP technology to handle cross-border transfers of digital funds for at least two years under the deal.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Shares of cancer-therapy companies skyrocket after Pfizer acquisition newsShares of gene-therapy companies shot up on Monday after Pfizer Inc. announced it would acquire cancer drug maker Array BioPharma Inc. in a deal worth up to... What’s bitcoin doing if these are skyrocketing?
La source: MarketWatch - 🏆 3. / 97 Lire la suite »