San Francisco-based Ripple has completed a $50 million investment in MoneyGram.

The invested funds will assist and support the use of on-demand liquidity, which is a global payments product that uses XRP.

As a reminder, Ripple invested in MoneyGram in June of this year, and now owns approximately 10% of the company’s common stock.

And the amount of 50 million dollars is the total amount invested from Ripple, where the amount was divided into two parts, the first part 20 million dollars was paid last June and the 30 million part was announced recently, and thus Ripple concludes its commitment and completes the amount invested in the “MoneyGram” company.

Ripple had bought MoneyGram shares for the first $20 million at a price of $4.10, which is more than the current price estimated at $3.

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Ripple now owns 9.95% of the common stock of MoneyGram, and approximately 15% on a fully diluted basis including non-voting orders held by Ripple.

These funds are expected to support MoneyGram’s continued use of the on-demand liquidity service for the Ripple service.

The global payments product, XRP, uses digital assets tied to Ripple to make almost instant payments at a significantly lower cost.

stated Mr. Alex Holmes, President and CEO of MoneyGram, on the ongoing partnership between the two companies, said:

Partnerships with companies like Ripple support innovation and allow us to invest in creating better customer experiences.

I expect to increase our growth into new lanes and explore new products and services.

He also commented on the initial successes with the on-demand liquidity product.

Some news reports show that MoneyGram is now using the service to transfer up to 10% of foreign exchange volume in Mexican peso.

It is also already using on-demand liquidity in Europe, Australia and the Philippines.

Ripple CEO Brad Garlinghouse said he was relieved by the significant progress that has been made since Ripple made its first investment in MoneyGram this summer.

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He stated:

Digital assets and blockchain technology have the potential to make a huge impact on cross-border payments – MoneyGram and Ripple are an example.

Although XRP appears to be used more for cross-border settlement, the price of XRP has not been particularly good against the rest of the market in recent weeks and months.

Despite its apparent use by MoneyGram, the value remained more or less constant and even depreciated when Bitcoin went down.

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MoneyGram: A portion of the remittances between Mexico and America are made via the XRP currency.