Ripple Day has officially announced that it has terminated its partnership with Moneygram. The two companies have been cooperating in the field of overseas payments since 2019.
to the the report “The Block” Ripple announced in a post on its official blog that the decision to terminate the current cooperation has been made by agreement of the parties. It is worth noting that Monigram operates in the field of money transfer services.
Ripple CEO Brad Gralinghouse tweeted that it was not necessary to make things worse in the United States:
While the lack of a legal framework in the United States has made things difficult for consumers and businesses, the joint decision of Ripple and MoneyGram cannot be denied. [تا به اینجا] Billions of dollars in overseas transactions have been transferred through instant ripple liquidity.
Ripple said in a statement that both companies had committed to reconsider their relationship in the future.
ManiGram and Ripple cooperation dates back to July 2019. At the time, Monogram agreed to use XRP digital assets for its cross-border exchanges and settlement process. Under the agreement, MoneyGram received XRP payments for using Ripple Services; However, the publishers stated in the published documents that they did not maintain the XRPs and criticized them as soon as they received them.
ManiGram announced last month that it would stop using the Ripple platform. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple. According to the commission, in addition to Ripple, Chris Larsen, co-founder and CEO Brad Garlinghouse, are among the defendants in the case.
So far, a hearing has been held. Garlinghaus and Larsen have both stated that they want to dismiss the case and drop the charges in court.