April 17, 2021

Ripple has sold its shares to MoneyGram

Ripple has sold its shares to MoneyGram

Although the Ripple and MoneyGram partnership was not as productive as expected, it definitely brought Ripple'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 the massive sell-off of shares reduced their value, at the timethey are traded 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 partner with MoneyGram.The decision to sell is only of a financial nature - we consolidate the profits made from the investment in MGI shares. The sale of shares will in no way affect our cooperation.

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According to the materials cointelegraph.com