A few weeks ago I reported on the MoneyGram and Ripple partnership. This partnership would see the international cross border company utilize Ripple’s Xrapid product. I further reported that following the deal, MoneyGram stock soared by more than 350% in the weeks that followed. This was a clear sign that Wall street was backing the deal.
For Ripple’s XRP, the deal wasn’t that significant as the asset saw short term gains that were later wiped out. Investors, especially Wall Street, consider cryptocurrencies to be big but remain hesitant about investing directly. Instead, they prefer indirect investing for example with MoneyGram after that have partnered with a crypto startup.
Since the partnership, not much has been shared from the two companies. Until now. MoneyGram CEO has now come out and shared about Ripple and the potential of the disruptive cryptocurrency industry.
MoneyGram CEO: Ripple Really Fast
In an interview, CEO Alexander Holmes stated:
Ripple has large distributed blockchain technology and an interesting crypto coin like XRP can cross borders in seconds. What they don’t have is pools of global liquidity in fiat currency. We, however, have pools of money across the world and our speed is only enabled by the ability to pre-fund and move money in advance. One system is really fast but lacks liquidity, the other has massive amounts of liquidity but is inherently slow.
Cryptocurrencies Are Inevitable
It is clear that it will take some time for the world to widely adopt cryptocurrencies. It will also take time for traditional investors to begin investing in cryptocurrency. But as U.S. Senator Mike Crapo (R-Idaho) recently stated, cryptocurrencies are “inevitable”. They are the final word in financial freedom. The solution to breaking state and money which will see money become independent.
As I reported earlier in the week, it is the fusion of state and money that has seen results like the U.S printing out billions of dollars in days and out of thin air. This has over the years devalued money and in extreme cases led to inflations and recessions. The last serious case, the 2008 financial crisis, led to the birth of Bitcoin. Cryptocurrencies need to keep growing and finally free the world.
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