Alibaba’s Ant Financial Acquires MoneyGram, Considers Blockchain Tech
Alibaba's Ant Financial Services has acquired MoneyGram. At the same time, it explores blockchain tech for Alipay. Alibaba Group Holding Limited, the Chinese e-commerce and financial services conglomerate has made a significant move into the remittance industry. The company’s subsidiary Ant Financial Services Group has acquired MoneyGram International Inc. for $880 million. The acquisition of MoneyGram not only offers Ant Financial a stronger foothold in the remittance sector but also gives it a unique opportunity to expand its services across the globe. MoneyGram and its counterpart the....
Related News
Bitcoin and Crypto mass adoption is going to a new level, with international financial service providers like MoneyGram embracing it. MoneyGram is a global money transfer and financial service provider. It has both digital and retail locations around the globe, enabling consumers to pay bills and send money to friends and family at affordable rates. […]
Moneygram has launched a new crypto service to allow customers to buy, sell, and store cryptocurrencies using its mobile money transfer app. Initially, three cryptocurrencies are supported, including bitcoin and ethereum.
Moneygram’s New Crypto Service
Moneygram International Inc. (Nasdaq: MGI) announced the launch of a new cryptocurrency service Tuesday. The official Twitter account for Moneygram tweeted:
Moneygram announces the launch of a new service enabling consumers to buy, sell and hold cryptocurrency via the Moneygram app. This feature gives customers in....
Ripple's partnership with MoneyGram may not be as warm as it once was, but it's paying off. Ripple Labs has sold a huge chunk of its 2019 investment in MoneyGram. Per a Friday night filing with the Securities and Exchange Commission on Friday night, from Nov. 27 through Dec. 4, Ripple Labs managed to sell 2,264,113 shares of MoneyGram (MGI). The tech firm netted a total of $15,303,792.60 from the sales.MoneyGram's stock value has soared in recent months, from $2.94 on Oct. 1 to $8.53 on Nov. 23. In no small part thanks to news of Ripple's sell-off, MGI has slipped back down to $6.54 as of....
Chinese e-commerce behemoth Alibaba has surprised the crypto world by launching a non-fungible token marketplace. According to the South China Morning Post, Alibaba’s NFT marketplace not only allows users to buy and sell NFTs, but also license intellectual property (IP) copyrighted by blockchain technology. The marketplace is targeting creators such as musicians, writers, artists and […]
Ripple Labs Inc. is selling 4 million of its shares in Moneygram, or about a third of its total shareholding in the company. The decision seems in part to be motivated by the surging Moneygram share price and Ripple’s desire to cash out after buying the shares at a premium of $4.10 in 2019. At close on Nov. 27, shares of Moneygram were down 4.8% at $7.42 on the Nasdaq Stock Exchange. However, the stock has soared 260% year-to-date, rising from $2.06 on Jan. 2. Ripple will earn nearly $30 million if it sold its 4 million Moneygram shares at current market prices – an almost 50%....