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Ripple and Moneygram End Partnership as Lawsuit Over XRP Rumbles On

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Published on:
March 9, 2021

'We are both committed to revisiting our relationship in the future,' the companies said in a joint statement.

Ripple and Moneygram End Partnership as Lawsuit Over XRP Rumbles On

Table of Contents

Ripple and Moneygram have announced that they are ending their partnership.

 

The news comes as Ripple continues to fight a lawsuit brought by the SEC over the sale of XRP tokens.

 

In a joint statement, both companies said:

“We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL).”

The firms also left the door open to a partnership in the future, adding:

“We are both committed to revisiting our relationship in the future. We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments for the benefit of billions of consumers around the world.”

Trying Times

Last month, MoneyGram had announced that it was suspending trading on Ripple’s platform “due to the uncertainty concerning their ongoing litigation with the SEC.”

 

Ripple executives have been seeking to get the case filed by the SEC dismissed.

 

The company’s CEO, Brad Garlinghouse, has also expressed optimism that Ripple will continue to flourish in the Asia Pacific region — even if the lawsuit has affected growth in the U.S.

 

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