Source: ARK Disrupt Issue 107: January 16, 2018. By @juliahARK

MoneyGram and Ripple are partnering to test XRP in the money transfer space. Ripple is creating a network “for banks and financial institutions that [will] allow for faster and cheaper interbank trading and settlement.” MoneyGram hopes to become competitive with digital upstarts now that U.S. regulators have nixed its deal with Alibaba’sBABA Ant Financial. Thanks in part to MoneyGram’s announcement, XRP has soared roughly 700% during the last month, making Chris Larsen, co-founder of Ripple, one of the wealthiest individuals in the world.

That said, XRP’s use case has yet to be proven. Having been “criticized for obfuscating the nature of its partnerships with financial institutions,” one of Ripple’s challenges is garnering trust. Its centralized ecosystem is anathema to the blockchain community which has been built on open source software. Despite this controversy, the MoneyGram partnership does seem like some sort of progress for Ripple’s xRapid.

View original article and other research here.


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Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.