Ripple Says Its Partnership With Moneygram Has Ended


MediaAuthority.id – Ledger firm Ripple said Monday that its partnership with money transfer company Moneygram is coming to an end.

“Together, Ripple and MoneyGram have made the decision to terminate our current partnership agreement,” Ripple said in a blog post about the matter.

CEO Brad Garlinghouse said in a tweet accompanying the announcement:

Although the lack of a crypto reg framework has been disastrous for US businesses & consumers, there is no denying what Ripple and MGI have achieved together. Billions of dollars have been sent and settled across borders via ODL w/XRP.

Ripple also noted in its statement that the two companies are “committed to revisiting our relationship in the future.”

The Ripple and Moneygram partnership began in June 2022. As reported at the time, Moneygram agreed to use the XRP digital asset as part of its foreign exchange settlement process, with Ripple taking an equity position in the company. As part of the deal, Moneygram receives a financial incentive in the form of XRP (though, as disclosed in a public filing, Moneygram does not hold XRP but instead sells it upon receipt).

Moneygram moved to suspend use of the Ripple platform last month, as media previously reported, in light of Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC), which filed a lawsuit against Garlinghouse, co-founder Chris Larsen and Ripple in December.

Since December, Ripple has filed its official response to the SEC complaint. Both Garlinghouse and Larsen have moved to have the charges against them dropped.

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