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Ripple Paid MoneyGram $16.6 million In XRP Incentives In Q1 2020
Summary: Ripple has paid its client MoneyGram, the money services firm, $16.6 million for incentives in the first quarter of 2020. According to MoneyGram’s Q1 financial result publish on Friday, its total operating expenses include "Ripple market development fees of $16.6 million, partially offset by related transaction and trading expenses of $4.5 million." Ripple pays incentives ...
Ripple has paid its client MoneyGram, the money services firm, $16.6 million for incentives in the first quarter of 2020.
According to MoneyGram’s Q1 financial result publish on Friday, its total operating expenses include "Ripple market development fees of $16.6 million, partially offset by related transaction and trading expenses of $4.5 million."
Ripple pays incentives to MoneyGram for utilizing its RippleNet solution, and MoneyGram classifies these payouts as a "contra expense rather than revenue" and as a "market development fee based on the volume of foreign exchange that we transact on Ripple's platform."
By Roland James
Tags: incentives,MoneyGram,Q1 2020,Ripple,Ripplenet
Link: Ripple Paid MoneyGram $16.6 million In XRP Incentives In Q1 2020 [Copy]
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