The company and the crypto both benefit from the announcement
Ripple is up more than 27% following a joint announcement of a payments test with MoneyGram.
Ripple has jumped to $2.19 from $1.71 on the announcement, which is seen as another example of the advantages of its technology.
Meanwhile, shareholders of MoneyGram are just as enthusiastic with the company up to $13.15 from $12.09 at the close yesterday. That's a 9% climb.
"Every day blockchain technology is changing the norm and encouraging innovation. Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid. We're hopeful it will increase efficiency and improve services to MoneyGram's customers," said CEO Alex Holmes in a statement.
It pales in comparison to the doubling of shares of Kodak when they announced their own crypto.
Perhaps the CEO of MoneyGram will instead want to consider a MoneyGram-coin ICO.
