Blockchain service provider Ripple Labs has finalized its $50 million investment in MoneyGram International (NASDAQ:MGI). The money transfer company received the final $20 million from the San Francisco-based firm as part of the commitment made in June 2019.
Ripple Completes Investment in MoneyGram
In June, the blockchain provider committed $30 million as part of the investment, and now it has completed the transaction. In the latest transaction, Ripple acquired MoneyGram’s newly issued stock at $4.10 per share, which is much higher than MoneyGram’s current market valuation. With the investment concluded, Ripple will now hold around 10% …
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