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Ripple May Bless New MoneyGram and Visa’s P2P Debit Card to Use XRP: Unconfirmed

  • Yuri Molchan
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    MoneyGram teams up with Visa to launch a debit card, the community believes it might use XRP in the future, though there has been no official confirmation

Ripple May Bless New MoneyGram and Visa’s P2P Debit Card to Use XRP: Unconfirmed
Cover image via www.123rf.com
Contents

Just yesterday, PRNewswire reported that MoneyGram had joined forces with Visa to launch a P2P debit card deposit service.

In the light of the recent acquisition of the payment service operator MoneyGram by Ripple, many in the XRP community believe (and hope) that this debit card service would utilize XRP for fast money transfers.

MoneyGram, Visa Direct + Ripple?

Visa Direct is a payments platform of Visa that conducts payments to more than a billion cards around the world. The head of MoneyGram Alex Holmes stated:

We strive to create the best possible experience for sending and receiving money, and this new product offering empowers our customers by giving them yet another way to send money to friends and family.

Bill Sheley, the Global Head of Visa Direct commented on the recent collaboration with MoneyGram:

By implementing Visa Direct, companies like MoneyGram are able to offer choice, flexibility and peace of mind to customers, knowing that each transaction is backed by the security, reach and capability of Visa's global payments network.

At present, the new debit card service works only within the US. However, Visa and MoneyGram soon plan to expand it to other regions as well.

Naturally, when such a remittance giant as MoneyGram and a heavyweight as Visa join forces, taking into account the recent link between the former and Ripple, many would be seduced to think that finally, XRP would start to be utilized here.

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The community’s speculation

As reported by U.Today earlier, MoneyGram now uses Ripple’s xRapid to carry out global payments by utilizing XRP.

This makes some in the Ripple community speculate that the new card service by MoneyGram and Visa may also start using XRP as soon as it goes beyond the US.

Image by Twitter
Image by Twitter

Some are in doubt, though.

Image by Twitter
Image by Twitter

Ripple has not yet commented on this speculation in any way.

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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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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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