MoneyGram and Ripple part ways

Ripple and MoneyGram are no longer partners, however, they say that they may team up again.

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Fintech firm and MoneyGram international have decided to terminate their cooperation says Brad Garlinghouse, Ripple CEO. Having said that, both companies are inclined to reunite in some way in the future.

According to Garlinghouse, the aforementioned companies had billions of dollars processed through Ripple’s RippleNet and On-Demand Liquidity (ODL) services. Here is what he said:

“While the lack of a crypto reg framework has needlessly muddied the waters for U.S. businesses & consumers, there’s no denying what Ripple and MGI have achieved together.”

Mr. CEO is not happy with US lawmakers and has stated that they don’t want the crypto sector to grow and that’s why they do not lay down clear regulatory guidelines. He stated that the government’s statement that says Ripple XRP token is a security is detrimental to the crypto industry all around the globe:

“That's why I say this isn't just bad for Ripple, it's bad for crypto broadly here in the United States. And it's driving that activity, it's driving that entrepreneurial activity outside the United States.”

The two companies joined in June 2019 and this agreement was supposed to be expired in 2023 which has already happened.

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Cryptocurrency(5)

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MoneyGram

Ripple

Tags

MoneyGram

Ripple