Ripple looks to invest in ‘multiple’ companies after MoneyGram

Ripple is looking to sign “multiple” investment and acquisition deals after its $30 million investment in money transfer giant MoneyGram.

“We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage,” Brad Garlinghouse, the CEO of Ripple, told Yahoo Finance UK on Friday.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Garlinghouse did not provide specific details about potential investments, as deals are “always very, very hard to predict.”

Back in June, Ripple invested $30 million in MoneyGram, with a plan to further invest up to $20 million in the next two years.

Last week, MoneyGram CEO Alex Holmes, said that the firm has initiated transactions on Ripple's xRapid blockchain platform, which uses XRP cryptocurrency to process cross-border payments.

TAGS
XRP

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.