{"id":33843,"date":"2020-12-23T11:40:45","date_gmt":"2020-12-23T09:40:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33843"},"modified":"2025-08-28T15:54:36","modified_gmt":"2025-08-28T12:54:36","slug":"moneygram-adopts-wait-and-see-stance-after-sec-suit-against-ripple","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/moneygram-adopts-wait-and-see-stance-after-sec-suit-against-ripple\/","title":{"rendered":"MoneyGram adopts wait-and-see stance after SEC suit against Ripple"},"content":{"rendered":"<p>The American money-transfer service MoneyGram has not yet seen any &#8220;negative impact&#8221; on its cooperation with the California blockchain company Ripple due to the U.S. Securities and Exchange Commission (SEC) lawsuit. This is reported by <a href=\\\"https:\/\/www.coindesk.com\/moneygram-takes-wait-and-see-approach-as-sec-sues-partner-ripple\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">CoinDesk<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>Representatives said they would monitor developments. MoneyGram continues to use other traditional counterparties in currency trading throughout the term of its agreement with Ripple.<\/p>\n<p>At present, the service ranks second globally by cross-border money-transfer volume, behind Western Union.<\/p>\n<p>In the summer of 2019 MoneyGram began processing cross-border payments via the On-Demand Liquidity (ODL) system, which uses the XRP token. For interacting with ODL, the service earns commissions in XRP.<\/p>\n<p>In November 2019 Ripple closed a deal worth $50 million with MoneyGram, obtaining 9.95% of its ordinary shares. In the second quarter of 2020 Ripple paid the partner <a href=\"https:\/\/forklog.com\/en\/news\/moneygram-received-15-1-million-in-xrp-from-ripple-in-q2\">$15 million<\/a>, in the third \u2014 <a href=\"https:\/\/forklog.com\/en\/news\/moneygram-earned-9-3-million-from-ripple-in-the-third-quarter\">$9.3 million<\/a>.<\/p>\n<p>During December, MoneyGram CEO Alex Holmes said that over the 18 months of cooperation with the fintech company the number of transactions <a href=\"https:\/\/forklog.com\/en\/news\/moneygram-chief-outlines-results-of-ripple-partnership\">increased by 220%<\/a>, and online customers grew by 140%.<\/p>\n<p>In December, <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">the SEC filed a suit against Ripple,<\/a> its CEO Brad Garlinghouse and co-founder Chris Larsen. According to the regulator, the company sold unregistered securities in the form of XRP tokens to retail investors.<\/p>\n<p>The materials mention the ODL payment network, which has drawn 15 firms from the money-transfer sector.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American money-transfer service MoneyGram has not yet seen any &#8220;negative impact&#8221; on its cooperation with the California blockchain company Ripple due to the U.S. Securities and Exchange Commission (SEC) lawsuit. CoinDesk reports this.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1855,112,128,26],"class_list":["post-33843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-moneygram","tag-ripple","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=33843"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33843\/revisions"}],"predecessor-version":[{"id":33844,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33843\/revisions\/33844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=33843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=33843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=33843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}