April 17, 2021

Ripple terminates cooperation with MoneyGram

Ripple terminates cooperation with MoneyGram

Ripple's key partner, payment operator MoneyGram, has severed its partnership with a crypto project.

According to According to Brad Garlinghouse, the existing terms of the contract do not suit both parties. In the future, companies plan to revise them.

Ripple terminates cooperation with MoneyGram

At the same time, the CEO of Ripple noted positiveresults of cooperation. Cross-border payments through On-Demand Liquidity (ODL) allowed MoneyGram to increase the number of transfers by 220%, the number of users by 140%, and receive commissions in Ripple tokens.

In 2019, Ripple acquired a 9.95% stake in MoneyGram for $ 50 million. In December 2020, the company sold securities with a profit of more than $ 15 million.

Against the background of the regulator's claims to Ripple, MoneyGramstopped using XRP token, like many crypto platforms. However, Ripple is not going to give up its positions and believes that the future of the company does not depend on the SEC.

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