After Moneygram, Ripple CEO looking to make multiple investments

As reported earlier Ripple has invested 30 million dollars in money transfer company Moneygram, now Ripple CEO, Brad Garlinghouse, in an interview to Yahoo Finance has indicated towards multiple potential investments.  He said that they have a strong balance and want to use it to their advantage. Without mentioning any specifics about deals, he said that they are looking to invest in any business that would give them more capabilities and would serve their customers better.

Ripple was founded in 2012 in Silicon Valley. It is now among the world’s leading cryptocurrency companies. XRP is used by many financial companies to make international payments. XRP is decentralized and traded on different exchanges, but the company still owns around 55% of the total supply, worth around $13.7 billion.

Brad Garlinghouse mentioned they are probably the biggest investor in the crypto space and have publicly announced more than $500 million worth of investments in the last 18 months.

Last month Ripple bought $30 million worth of shares of MoneyGram, and in return, the finance company agreed to make Ripple its primary partner for cross-border payment settlement. MoneyGram will use RapidX to make international payments.  Garlinghouse also said that MoneyGram was facing a tough time in the market, and Ripple was in the situation to help them, and they were in the position to help Ripple. Garlinghouse said Moneygram would start with