Ripple and MoneyGram wind down their partnership

Ripple has announced that it and MoneyGram decided to wind down their partnership, which ends the agreement these two companies put together in February.


Ripple had been paying money to MoneyGram in order to use XRP tokens since 2019, and first began their partnership in 2018. Since then, MoneyGram had netted $61.5 million dollars in development fees from Ripple. The shares of MoneyGram dropped down 7% after the announcement. The whole agreement was put on hold when Ripple was sued by the U.S Securities and Exchange Commission saying that XRP is an unregistered security in violation of the U.S investments law.


Ripple is now fighting those assertions, although it was stated that Ripple and MoneyGram will soon revisit the partnership idea in the future.