Ripple buys $30 million stake in MoneyGram

  • News Digest

Jun 20, 2019-

NEW YORK: Blockchain firm Ripple has bought $30 million worth of shares and warrants in MoneyGram International Inc, the two companies said on Monday, as they partner to use Ripple’s product for cross-border payment and foreign exchange settlement. Ripple bought MoneyGram’s stock

at $4.10 per share, representing a premium of about 183 percent to its Monday closing price. The partnership will initially be for two years, MoneyGram said. Shares of MoneyGram surged about 77 percent to $2.56 after the closing bell. (REUTERS)

Published: 20-06-2019 10:15

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