Express

Ripple Paid MoneyGram $16.6 million In XRP Incentives In Q1 2020

Roland James

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

Last Update:

Tags: ,,,,
Link: Ripple Paid MoneyGram $16.6 million In XRP Incentives In Q1 2020   [Copy]
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 4 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 11 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 13 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 15 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 18 days ago
  • You need to login to comment.