Ripple’s statement after MoneyGram’s decision


Ripple has released a statement about the money transfer company MoneyGram, which it has partnered with in 2019, to take a step back, citing the litigation process between Ripple and SEC on the cooperation.

In the statement made by Ripple, “We signed a long-term contract with MoneyGram, which is still in effect in 2019 and is not limited to the company’s use of ODL. Together we are actively investigating alternative use cases. We look forward to finding a forward-looking formula with MoneyGram, and we believe that the end of this case will lead to more legal clarity in the US regarding the use of digital assets and blockchain technology. As we said before, the lawsuit against Ripple has unnecessarily muddyed the water and created more uncertainty for exchanges, market makers and businesses. ” It was said.

In MoneyGram’s statement yesterday, it was noted that the use of Ripple’s payment solution ODL was suspended, and it was not planned to resign from the incentives received as Ripple market development fees in the first quarter of this year.

As it is known, the money transfer company received XRP under the name of “market development fee” from Ripple every quarter in line with its agreement with Ripple to encourage the use of XRP. It was stated that in the fourth quarter of 2020, Ripple provided an incentive of $ 8.5 million to MoneyGram.

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