Thanks to a developing partnership with MoneyGram, Ripple is on the rise. The money transfer company will be trialing the cryptocurrency to determine if it can serve as a faster method for moving funds between accounts and locations. Unlike competitors, Ripple’s average transaction takes mere seconds. "The inefficiencies of global payments don't just affect banks, they also affect institutions like MoneyGram," Ripple CEO Brad Garlinghouse said in a statement Thursday. "Money transfer companies are incredibly important because they help people get money to their friends and loved ones." Garlinghouse added that, by using Ripple's digital asset, MoneyGram would be able to move money "as quickly as information."