MoneyGram and Ripple almost did not cooperate in the first quarter

Alexander Holmes, CEO of MoneyGram, said that in the first quarter of 2020, the company was almostdid not cooperate with the Ripple payment system.

In the summer of 2019, Ripple announced a “strategicpartnership ”between the two companies. The initial partnership was set for two years, with Ripple committing to invest $ 50 million in MoneyGram over the course of 24 months.

The statement stated that Ripple will act as “MoneyGram's key partner in international payments and settlements in foreign currencies using digital currencies.”

Despite the high expectations regarding the partnership, the CEO of MoneyGram said that in the first quarter the companies had little cooperation. He said:

I would say that the first quarter was quiet enough, we did not present any new solutions or expand existing services.

However, Holmes is optimistic about further partnership:

“We are still continuing to test some things. I think the results will change over time. In general, this is a worthy partnership, and I am pleased with what we worked on. ”

Based on materialscointelegraph.com