MoneyGram is stepping down from its partnership with Ripple

MoneyGram is stepping down from its partnership with Ripple

MoneyGram, the money transfer company is putting its partnership with Ripple XRP on hold. Due to the uncertainty around the XRP token. On Monday, the company has said that they are not looking for any benefit from Ripple market development fees in quarter 1 of 2021. Last year, the company has taken $12.1 million in fees.

Since 2019, Ripple has been paying the company to use XRP tokens in international settlement. MoneyGram has taken around $61.5 million from Ripple.

This partnership is on hold until the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission clears up. SEC says that XRP is an unregulatory violation of rules.

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