MoneyGram distances itself from Ripple

According to a recent statement by MoneyGram, the company has had little to no cooperation with Ripple and has not used itpayment technologies.

The press release states that MoneyGram has never used Ripple's counterparties – ODL and RippleNet – to conduct transactions.

For reference, MoneyGram does not use the ODL and RippleNet platforms for direct transfers of customer funds – digital or otherwise.We would also like to note that MoneyGram is not involved in any actions of Ripple that led to the lawsuit fromSEC.

Besides:

MoneyGram continues to use traditional merchant counterparties and our ability to process payments is independent of the Ripple platform.

MoneyGram is another company that has started distancing itself from Ripple after the SEC's lawsuit.Several major exchanges have already suspended XRP trading pending the conclusion of the court case.

Recall that in 2019, Ripple and MoneyGram entered into a strategic partnership, within the framework of which it was planned to use Ripple technologies to make international payments for MoneyGram.

As part of the agreement, Ripple invested $ 50 million in MoneyGram stock. Recently it became known that the blockchain company sold its shares at a profit of over 300%.

XRP continues to fall, putting pressure on the entire market. The minimum was set at $ 0.21 tonight.