Rumor: Ripple (XRP) Being Connected To Walmart-MoneyGram Deal

News of Walmart’s new service hasn’t settled in yet, but Ripple (XRP) is already being connected to it. The business behemoth recently launched a money transfer service akin to its hugely successful Walmart2Walmart money transfer.

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News of Walmart’s new service hasn’t settled in yet, but Ripple (XRP) is already being connected to it. The business behemoth recently launched a money transfer service akin to its hugely successful Walmart2Walmart money transfer.

Well, we know what a good rumor could be like, but this one appears to have sprinkles of truth around.

To facilitate the new global service, the U.S giant has enlisted the services of MoneyGram to provide users with an easy and low-cost way to send money. Though details are scanty and don’t mention it, speculation is that this will involve Ripple’s XRP.

MoneyGram is already partnering Ripple via its xRapid solution to achieve a similar objective in its international money transfer business. Wal-Mart’s new service, called Walmart2World, will similarly provide wire services to its customers around the world.

It’s not official yet, but it’s quite easy to see how XRP can fit into this scenario.

The RippleNet provides three crucial factors that could make the initiative attractive to both the companies involved and the customers. These 3 are:

  • speed
  • low fees
  • scalability

Walmart2World seeks to have its users send money via MoneyGram to 200 countries, at the same cost across all regions, and fees that should remain consistently low.

The provision of a platform for sending money at very low fees around the world augers well with Ripple’s growing global network. Transactions on the Ripple network cost 0.00001XRP, effectively cheaper for companies like Walmart.

The service will be launching in all the 4,700 Walmart stores across the U.S. If it happens that XRP is involved in this latest financial partnership, then Ripple’s growing influence wouldn’t be in doubt. At the moment, it’s a “let’s wait and see” scenario.

Ripple to Partner global network of Central Banks

Elsewhere, it has emerged that Ripple (XRP) could be lining up a mega-partnership with several Central Banks around the world. This isn’t very surprising, given its concerted efforts to become the currency of choice for cross-border payments.

The company’s leadership sees central banks as one very important component. Many cryptocurrencies seek to become fully decentralized. However, Ripple sees a wider partnership and integration with traditional banking and financial institutions as a viable means to get blockchain solutions to the world.

This revelation that could put Ripple on the verge of going mainstream was made by a representative at this week’s Bangkok Fintech Fair.

Speaking at the event, the spokesperson said that they were in talks with about 40-50 Central Banks. The apparent revelation was let out during one of the panel discussions concerning the state of cross-border payments in the FinTech industry.

The whole issue fits in well with Ripple’s recent push to have banks and other financial institutions use its platform. The company’s xCurrent solution is specifically tailored to the needs of the banking sector.

The possible partnership with a network of CBs opens up the existing infrastructure to incorporate all the other banks within the jurisdiction of the government-controlled CB.

It remains to be seen what the main team at Ripple say about this, but the truth is that the community is already getting excited about it. And it seems to have come at the right time too.

Ripple coin rises

You could be tempted to ask why XRP prices are rising after several weeks of negative sentiment. It is good to see the XRP/USD pair gain +4.91% as the market this week continues to shake off the bears.

XRP is among many coins on an upsurge after reeling under pressure for much of last week. The coin traded at $0.5412 against the U.S dollar at 8.45 GMT on 4th April 2018.

The crypto’s value is predicted to have a great outlook, with the price expected to post an even higher correction throughout the week.

The gruesome market of a few weeks ago is quickly turning positive and Ripple (XRP) could be one of the main beneficiaries. The beginning of the Easter weekend had suggested that the bearish trend was set to continue into the new week. But now, with the U.S Tax Day quickly approaching, the market is lively. Recovery efforts are expected to continue up to around mid-April as investors try to find money to clear capital gain taxes.

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