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Ripple-Backed MoneyGram Offers Coinbase CEO Free Trial of Their Services

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Thu, 02/13/2020 - 13:47
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  • Coinbase chief Brian Armstrong is disappointed with PayPal for failing him, so MoneyGram has offered Armstrong a promo code to trial its remittance service

Cover image via twitter.com
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PayPal and traditional banks have been frequently criticized by crypto enthusiasts and by some of the top figures in the crypto industry too. Earlier, U.Today reported that Bank of America had closed an account of the Tron CEO Justin Sun.

It happened right after a similar action against former PayPal executive Roelof Botha took place as well – assumingly after he had started buying Bitcoin.

On Wednesday 12 February, a payment from the CEO of Coinbase exchange, Brian Armstrong, was rejected by both PayPal and his bank. Armstrong took to Twitter to share this with the community.

Ripple’s partner, MoneyGram, immediately offered to help.

‘Recipient is unable to receive money’

Tweeting that his transaction to a friend via PayPal had been rejected and then also declined by the bank, Brian Armstrong commented that if this happens in the US (a country where services are supposed to work in the most efficient way possible) then what damage from these centralized companies could occur in the rest of the world.

Coinbase 1
Image via Twitter

Admitting that the crypto sphere does have certain drawbacks and challenges, Armstrong still emphasizes that crypto payments do work after all.

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MoneyGram steps in

In the comment thread, Ripple-backed MoneyGram appeared and offered a promo code to the head of Coinbase to try MoneyGram’s remittance platform that works on the basis of Ripple-made On-Demand Liquidity (ODL).

MoneyGram is known to be using Ripple’s XRP for remittance in around five corridors across the globe. Three of them are tracked on Twitter by the XRP Liquidity Index bot – Mexico (Bitso exchange), the Philippines (Coins.ph exchange) and Australia (BTC Markets).

In late 2019, around ten percent of MoneyGram transactions from the US to Mexico were going via Ripple’s ODL and XRP.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ripple Unleashes One Bln XRP from Escrow, Community Expects Price to Drop

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Wed, 04/01/2020 - 08:27
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  • It is the first day of the month and Ripple has released one billion XRP from its escrow wallet. The community traditionally expects a price drop after such massive dumps

Cover image via stock.adobe.com

It is the first day of another month – this means that Ripple has lavishly thrown XRP from its escrow wallet – one billion coins. Since the start of 2020, this monthly dragon-sized amount was withdrawn in two portions of 500 mln XRP each.

XRP escrow
Image via Twitter

While the XRP price is in the green zone, trading at $0.173095 on CoinMarketCap, the comments under the tweets about the XRP release signify that the community is either indifferent (having got used to these releases already) or is expecting another price drop in the short term.

In January 2018, XRP, the third-largest cryptocurrency, reached an all-time high of nearly $3. Since then, XRP has been light years away from the ATH.

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Many skeptics say that the XRP price is not going to rise even in the long term, mocking those who remain faithful, holding bags of the coin.

As earlier reported by U.Today, many in the community believe that regular XRP releases made by Ripple prevent the price from rising and reaching at least $1. In 2019, a petition was set up on Change.org by crypto influencer ‘Crypto_Bitlord’ who wanted Ripple to stop dumping XRP.

Curiously, later on, another petition appeared on the same platform, requesting Ripple to accelerate the release of XRP in order to increase the coin’s adoption, which would assumingly lead to a massive price surge.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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