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08 March 2021

MoneyGram suspends Ripple partnership, citing SEC lawsuit

MoneyGram suspends Ripple partnership, citing SEC lawsuit


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Global money transfer service MoneyGram says it has officially suspended its partnership with blockchain payments firm Ripple amid the latter's litigation with the SEC.

MoneyGram said it had a more than $12 million net expense benefit from Ripple in the same quarter last year.

Securities and Exchange Commission would be taking legal action against Ripple as well as its CEO Brad Garlinghouse, and co-founder Christian Larsen, MoneyGram has seemingly attempted to distance itself from the firm.

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