• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Ripple

Ripple to Dispose Stake in Moneygram Shortly After Announcing End of a Business Relationship – Fintech Bitcoin News – Bitcoin News

Admin by Admin
March 14, 2021
in Ripple
0
Ripple to Dispose Stake in Moneygram Shortly After Announcing End of a Business Relationship – Fintech Bitcoin News – Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Just a few days after announcing the end of its partnership with Moneygram, the fintech firm Ripple Labs is now moving to dispose of its stake in the listed company. In a filing with the U.S. Securities and Exchange Commission (SEC), Ripple says it has entered into an agreement with Jefferies in which the latter is expected to execute “the orderly disposition of a portion of the former’s stake in Moneygram.”

Ripple and Moneygram Partnership Maybe Revisited

As the filed document explains, this agreement mandates Jefferies, a U.S. based diversified financial services company, to “sell up to 8,195,123 shares on behalf of Ripple.” However, this plan to offload the stock, which was expected to have commenced on March 11, is set to “expire upon the earliest of September 30, 2021.” At that point, “the maximum amount shall have been sold, or the occurrence of certain other customary events affecting the issuer.”

Related articles

Colombia Launches Land Registry On XRPL, Ripple Made It Happen – Bitcoinist

Colombia Launches Land Registry On XRPL, Ripple Made It Happen – Bitcoinist

July 1, 2022
Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

July 1, 2022

Still, despite taking these steps to end the business relationship, Ripple did hint in a statement that this partnership might be revisited in the future. The fintech firm said:

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.

The Effect of the SEC Lawsuit

After the SEC announced that it was suing Ripple Labs for allegedly violating the U.S Securities Act, the business relationship between Moneygram and the fintech firm became difficult thus forcing the former to take action. For instance, Moneygram said it has “faced logistical challenges in using the platform as well as legal and reputational risks” after the lawsuit was announced.

In addition, the listed money transfer organisation reported revenues losses as a direct result of the suspension of its business relationship with Ripple. On the other hand, Ripple has seen its XRP token being delisted by some cryptocurrency exchanges as a result of the SEC lawsuit. The fintech firm is also facing more scrutiny from the SEC as well as another lawsuit.

Meanwhile, despite the mounting challenges, Ripple insists it has not violated security laws. Already, some early signs from the SEC/Ripple legal battle seemingly suggest a tough fight for the regulator.

What does the end of the business relationship between Ripple and Moneygram mean for blockchain technology? Tell us what you think in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Share76Tweet47

Related Posts

Colombia Launches Land Registry On XRPL, Ripple Made It Happen – Bitcoinist

Colombia Launches Land Registry On XRPL, Ripple Made It Happen – Bitcoinist

by Admin
July 1, 2022
0

Blockchain development company Peersyst worked with Ripple in the implementation of the Colombian National Land Registry on top of the...

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

by Admin
July 1, 2022
0

Arman Shirinyan XRP "celebrates" massive spike in network activity; over 1 billion XRP are being transferred or unlocked Contents Series...

Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

by Admin
June 30, 2022
0

Disclaimer: The text below is a press release that was not written by Cryptonews.com.In the cryptocurrency world, there are always...

Ripple Expands into New Zealand via AirWallex – U.Today

Ripple Expands into New Zealand via AirWallex – U.Today

by Admin
June 30, 2022
0

Tomiwabold Olajide Airwallex has been using RippleNet since joining Ripple's enterprise blockchain network back in 2017 Contents Ripple confirms partnership...

Ripple Will Leave The United States If The SEC Wins – The Coin Republic

Ripple Will Leave The United States If The SEC Wins – The Coin Republic

by Admin
June 30, 2022
0

The lawsuit filed by the SEC continues to be delayed Ripple Labs is being sued for illegally using XRP as unregistered...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

Why Blockchain-Based IDs Are Better Than Traditional IDs? – The Coin Republic

July 1, 2022
After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

After Losing $60 Million in Bitcoin, El Salvador’s President Buys More – Decrypt

July 1, 2022
Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer – Cointelegraph

July 1, 2022
Anonymous Bitcoin Whale Just Moved $77M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $77M Worth Of BTC Off Coinbase – Benzinga – Benzinga

July 1, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack