Brad Garlinghouse: Ripple plans to sign a lot of investment projects

11.08.2019 / Payment system news

The head of Ripple, Brad Garlinghouse, said that the company is considering a “multitude” of options for investing in third-party projects. He made such a statement amid recent funding for the MoneyGram payment service.

“We are in a very strong position, the business is developing rapidly, we have a strong balance, and I intend to use our advantage,” the head of the fintech company said, noting that it is “very, very difficult” to predict the outcome of any transaction.

We add that plans for further investments became possible against the background of the conclusion of an agreement between Ripple and Moneygram in June this year. Then the fintech company acquired a 10% stake in the world’s second largest payment service for $ 30 million with the possibility of investing another $ 20 million over the next two years.

“Moneygram is in a position where it has huge assets all over the world, but the public market was not particularly welcoming to it. Shares went down, and there was some pressure on them. We felt that we were able to help the service, and he was able to help us, ”said Brad Garlinghouse. As part of the collaboration, Moneygram agreed to use the Ripple xRapid product in international payments.