Ripple announced the termination of its partnership with Moneygram, entered into a couple of years ago. The company said in a statement that it is pleased with the results of the partnership, since during this time, volumes of several billion dollars were processed using RippleNet.

In its fourth quarter 2020 report, released at the end of February, MoneyGram revealed that it is not going to use Ripple’s services in the first quarter of 2021 due to the situation with the SEC. Although, despite the fact that it was due to Ripple’s services that MoneyGram managed to earn $12.1 million in fees and the On-Demand Liquidity system used to process cross-border transactions.

Ripple noted that in case of mutual agreement, the companies can renew their partnerships in the future. However, today, due to lawsuits with the Securities and Exchange Commission, even such large crypto exchanges as Coinbase have abandoned XRP, stopping trading in pairs with their cryptocurrency.

In December 2020, MoneyGram decided to take a wait-and-see attitude, claiming that they saw no negative impact on their partnership with Ripple. Apparently, in the end, they decided to get rid of the risk of spoiling relations with the American regulator.

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