MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer services, announced that Ripple, a provider of enterprise blockchain solutions for global payments, has made the final $20 million investment in MoneyGram equity pursuant to Ripple’s original $50 million equity investment commitment made earlier this year. Ripple purchased the newly-issued equity from MoneyGram at $4.10 per share, which represents a significant premium to MoneyGram’s current market price. This funding will support MoneyGram’s operations as the company continues to increase volume and use of On-Demand Liquidity, Ripple’s product that leverages the digital asset XRP to send money globally, instantly and reliably for fractions of a penny.
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