Ripple has sold its shares to MoneyGram

While the partnership between Ripple and MoneyGram has not been as productive as expected, it has definitely broughtRipple's good profits.

Ripple Labs has sold most of its investments in MoneyGram made in 2019.

According to documents that Ripple filed with the Securities and Exchange Commission (SEC),On November 27 to December 4, Ripple Labs sold 2,264,113 shares of MoneyGram (MGI).Revenue from the sale was more than $15 million.

MoneyGram's share price has risen significantly in recent months, with one share selling at $2.94 on October 1 and $8.53 on November 23.News of a massive sell-off of shares reduced their value, at the time ofPublications they are trading at $6.54.

A Ripple spokesman said the companies would continue to cooperate and the sale of shares was nothing more than an investment strategy.He said:

Ripple continues to be a partner of MoneyGram.The decision to sell is only financial in nature – We are locking in the profits we make from investing in MGI shares. The sale of shares will in no way affect our cooperation.

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Based on materialscointelegraph.com