I suppose they might be even laundering money as well? I mean looking at what they have done so far, that company literally done zero things that are legit and in anyway not looking like scam but somehow people still like them.
How can a company like that have a third ranked currency I will never know and will have no idea. They are as shady as it comes and the only reason why they would buy a 15% stake that worths less than 20 million dollars for 50 million dollars would probably be some sort of money laundering to make sure they are spending their money to get something legit in return that otherwise could have seen as black money and would have taken from them. Ripple will eventually be sued by the SEC and IRS will take everything from them, not gonna be one bit surprised about it.
Topic: Ripple's Investment in MoneyGram (Read 78 times)
They are just as centralised as any banks that you can find.
The only thing worth nothing of Ripple is that they are dead-set on the money remittance, cross-border payment scheme. That's why they try to acquire MoneyGram in hoping to make the big jump and capture that niche with crypto.
Other than that, I don't see what Ripple can bring to the table that other crypto's can't. Still the 3rd coin as far as coinmarketcap, but they are still far from their all time high and we don't know if they can reach their peak again when we goes into another bull run.
The only thing worth nothing of Ripple is that they are dead-set on the money remittance, cross-border payment scheme. That's why they try to acquire MoneyGram in hoping to make the big jump and capture that niche with crypto.
Other than that, I don't see what Ripple can bring to the table that other crypto's can't. Still the 3rd coin as far as coinmarketcap, but they are still far from their all time high and we don't know if they can reach their peak again when we goes into another bull run.
Ripple is capable but been centralized is why I don't like the project, they are capable to do anyhow as they see fit, they have the money to bribe any companies or organization, I don't expect anything else from the m
From day 1, Ripple's attitude is very different than other crypto companies. Ripple is trying to capture the legal and centralized money transmission businesses around the world. If you look at their list of partners, they have got banks in their kitty who uses Ripple's network to transmit money worldwide at a fraction of cost they used to spend earlier. So it is a win-win situation for all. Banks are saving cost and Ripple is getting used!
Their 15% acquisition in Moneygram is a part of their bigger plan to get a big chunk of share in the worldwide money transmission business. It's sad that the acquisition doesn't look good in their books. But at the end of the day, they will have to do something with the free money they release from escrow from time to time. Only the Ripple investors are facing this heat!
Their 15% acquisition in Moneygram is a part of their bigger plan to get a big chunk of share in the worldwide money transmission business. It's sad that the acquisition doesn't look good in their books. But at the end of the day, they will have to do something with the free money they release from escrow from time to time. Only the Ripple investors are facing this heat!
Ripple recently released $200M+ in XRP tokens. Moments like these are a good time to dwell on how effectively Ripple spends its free funds.
Case in point: Ripple's MoneyGram Acquisition.
Ripple purchased a 15% stake in MoneyGram for $50M. Today, that stake is worth less than $20M. However, the interesting thing is that this deal was unprofitable from day 1. Ripple purchased MoneyGram shares at a $333M valuation when the company's market cap was not even $100M.
By buying shares off the market, Ripple's $50M investment would’ve given it a controlling equity stake (50%+) in MoneyGram rather than just 15%.
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