Ripple has completed its commitment to buy $50 million worth of equity in money remittance service MoneyGram. In a press release shared with Coin Rivet, MoneyGram announced that Ripple had successfully acquired a further $20 million worth of equity in the NASDAQ-listed company having already invested $30 million earlier this year. Ripple purchased newly created equity at a price of $4.10 per share, which is significantly higher than MoneyGram’s current market price of around $3.00. However, the extra capital will be used to develop 'On-Demand Liquidity' (ODL) solutions. Ripple’s ODL technology uses XRP digital assets to send money globally and instantly for low fees. Chairman and CEO of MoneyGram Alex Holmes said of the investment: "Our partnership with Ripple isThe post Ripple completes investment in MoneyGram with additional $20 million appeared first on Coin Rivet.
