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As per the website, MoneyGram is the second largest payments firm in the world. Operating over 200 countries, MoneyGram’s main business is in the global remittances market with an estimated worth of $600 billion.
In April, a subsidy of financial giant HSBC, Saudi British Bank (SABB) has officially launched an instant-cross border payment system powered by Ripple. Majed Najm, the deputy managing director of corporate and institutional banking at SABB, states that incorporating the product in itself is a big win for its consumers as they can now avail the speed and transparency of cross-border transactions.
Read more:Binance To Launch Bitcoin-Pegged Token on BINANCE Chain
Image source – Ripple Twitter
