Ripple will acquire an international remittance company's US$30 million equity

Ripple, a cryptocurrency company, announced Monday that it has entered into an important partnership with international remittance company MoneyGram. The company will use XRP in its daily money transfer service. Under the terms of the agreement, Ripple will acquire an 8% to 10% stake in MoneyGram at a price of 4.10 cents per share, equivalent to an investment of approximately $30 million. Ripple also provided MoneyGram with the option to regain $20 million in cash investment over the next two years.