Financial Times says Ripple pays millions of MoneyGram for using its software
The Financial Times, one of the leading companies in the world, known for its gloomy views on cryptography. And just recently, she again called into question the success of the widely publicized partnership of Ripple and the associated payment company MoneyGram. Which basically resembles FUD or the fear of the emergence of something new, unusual, large-scale.
FT reporter Isabella Kaminsky does not seem to agree with the fact that the $ 10 billion blockchain monolith actually has to pay MoneyGram to use its software.
FUD or pay to live
According to U.Today, the benefits of Ripple turned out to be the tidbit of the 4th quarter MoneyGram report. In the fourth quarter alone, profit amounted to $ 8.9 million ($ 11.3 million together with the third quarter).
Initially, MoneyGram wanted to add the above amount to the company’s quarterly revenue. However, the Securities and Exchange Commission (SEC) recommended that it be considered counter-expenses.
Kaminsky suggested that Ripple could pay MoneyGram to compensate for the losses incurred by its software ..
“Is this some kind of subsidy that Ripple pays MoneyGram in order to compensate them for the loss of income for using its own system? Maybe it’s some kind of rollback? Or maybe this is a gesture of goodwill, such as why not? ”
MoneyGram is not alone
MoneyGram declined to comment on what Kaminsky calls “a kind of pullback.” At the same time, another Ripple partner spoke about this more openly.
Ripple recently signed an agreement with the Azimo money transfer service, which will use the On-Demand-Liquidity solution to conduct transactions.
Azimo CEO Richard Ambrose said Ripple will pay his company to cover infrastructure costs.
What to consider Ripple’s expenses for covering or creating the necessary payment infrastructure based on the blockchain, of course, there are different names. Everyone has their own views and all opinions are good.
However, in order to receive something, it is necessary to create something (to give). And if the company is ready to invest for this, then why not?