{"id":26716,"date":"2020-07-31T18:06:16","date_gmt":"2020-07-31T15:06:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26716"},"modified":"2025-08-26T16:07:45","modified_gmt":"2025-08-26T13:07:45","slug":"moneygram-received-15-1-million-in-xrp-from-ripple-in-q2","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/moneygram-received-15-1-million-in-xrp-from-ripple-in-q2\/","title":{"rendered":"MoneyGram received $15.1 million in XRP from Ripple in Q2"},"content":{"rendered":"<p>MoneyGram&#8217;s money transfer service received $15.1 million in XRP from fintech startup Ripple, according to the company&#8217;s <a href=\"https:\/\/ir.moneygram.com\/news-releases\/news-release-details\/moneygram-international-reports-second-quarter-2020-results\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> for the second quarter.<!--more--><\/p>\n<p>When adjusted for reciprocal transactions, the amount of incentives MoneyGram received from its strategic partner is estimated at $6.3 million.<\/p>\n<p>In the first quarter, the volume of such payments amounted to $16.6 million. Earlier, the company <a href=\"https:\/\/www.theblockcrypto.com\/daily\/58860\/we-sell-xrp-as-soon-as-we-receive-it-says-moneygram-on-ripple-incentive-payments\" target=\"_blank\" rel=\"noopener noreferrer\">stated<\/a> that the received tokens are sold on the market as they arrive.<\/p>\n<p>MoneyGram&#8217;s financiers categorized the payments as &#8216;market development fees&#8217; not directly related to core operating income.<\/p>\n<p>The service earns XRP incentives based on the volume of trades processed through the On-Demand Liquidity (ODL) platform for cross-border payments. At the end of last year, MoneyGram announced the start of active use of ODL based on Ripple&#8217;s XRP token.<\/p>\n<p>The $50 million deal between Ripple and MoneyGram closed late last year. As a result, the California-based startup owns 9.95% of the money-transfer service.<\/p>\n<p>In June the fintech startup joined the recently formed Open Payments Coalition, which is launching a global PayID-based payment system using simple and intuitive identifiers.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MoneyGram&#8217;s money transfer service received $15.1 million in XRP from fintech startup Ripple, according to the company&#8217;s second-quarter report.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1855,112],"class_list":["post-26716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-moneygram","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26716"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26716\/revisions"}],"predecessor-version":[{"id":26717,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26716\/revisions\/26717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}