Ripple/Moneygram deal as big as Facebook’s Libra? Garlinghouse says so

Brad Garlinghouse

Ripple’s CEO Brad Garlinghouse is back in the news, this time bringing visibility to a $30 million deal with Moneygram inked this summer that will broaden the use of Ripple’s XRapid liquidity product.

Garlinghouse is expecting 100 new contracts to be signed over the rest of this year.

He also made an interesting comparison that’s turning heads in the industry.

According to reporting by Marie Huillet at Cointelegraph, Garlinghouse believes that the Ripple/Moneygram deal is up there with Facebook Libra, the social media giant’s new announcement of its own stablecoin.

Facebook has enticed several large traditional finance companies to pony up $10 million a piece to become members of a Facebook Libra Association that would administrate the coin.

However, Facebook currently battles regulatory headwinds as U.S. legislators and agencies look askance at the idea that a Facebook digital coin could be out there competing with the American dollar.

Meanwhile, Ripple reported quarterly XRP sales increasing by 48% in the past quarter.

Ripple has also gained a reputation as a company willing to work with regulators instead of against them.

“Ripple … has a record of declarations supportive of heightened regulation of the blockchain industry,” writes Kirill Bryanov in a piece outlining some of Ripple’s track record as a company that wants to work proactively with government agencies.

Investopedia goes further in a June 25 piece called “Why Does Ripple want more government regulation?”

The newest scoop adds some of Ripple’s private sector dealings; as the #3 coin (by wide consensus after BCH and ETH) Ripple stands to gain quite a bit from evolution on crypto regulation in America.

Keep it in your sights as a potential mover in blockchain technology, as the U.S. begins to warm up to the idea of digital assets in general.