MoneyGram Signs Deal to Work With Currency Startup Ripple

Money-transfer company will run a pilot program testing XRP, a digital currency

By 

Paul Vigna and

 

Peter Rudegeair

Updated Jan. 11, 2018 11:18 a.m. ET

MoneyGram International Inc. signed on to run a pilot program testing XRP, a digital currency created by San Francisco startup Ripple, in its payments network, the companies said Thursday.

The Dallas-based company agreed to test XRP as a tool for reducing money-transfer costs and settlement times. A MoneyGram spokeswoman said the open-ended pilot wouldn’t involve customer money since it is limited to internal processes. It is the first time the two companies have worked together, she added.

Source: https://www.wsj.com