This week, word that the South Korean government would ban trading sent ripples through the crypto market. South Korea, Japan and China account for the lion's share of trading on cryptocurrency exchanges. But thanks to
MoneyGram International Inc. is a money transfer company based in the United States with headquarters in Dallas, Texas. Announced to take a trial of xRapid one of the services provided by Ripple ( Ripple is a real-time gross settlement system, currency exchange and remittance network by Ripple )
Ripple CEO Brad Garlinghouse said that, by using XRP, MoneyGram would be able to move money "as quickly as information."
xRapid :-
xRapid uniquely uses a digital asset, XRP, to offer on-demand liquidity, which dramatically lowers costs while enabling real-time payments in emerging markets. Built for enterprise use, XRP offers banks and payment providers a highly efficient, scalable, reliable liquidity option to service cross-border payments.
Fact :- Ripple claims an average transaction on its network takes between two and three seconds to process. While Bitcoin transactions take around 51 minutes on average to go through.
-> Last year, IBM and a consortium of banks in the South Pacific announced a blockchain transfer arrangement that entails the use of a cryptocurrency called Stellar.