Ripple, the renowned blockchain payment company based in San Francisco, and the famous American money transfer company MoneyGram are taking an important step in terms of their partnership that has so far remained active between the two. But now both will officially end their partnership, according to a recent statement from the company’s executive officer.
Fintech firm Ripple’s Chief Executive Officer (CEO) Brad Garlinghouse has claimed in his recent statement that MoneyGram International (MGI) and Ripple are winding up the partnership between them. You made this decision together.
The company also announced the news in an official statement released on March 8. The company said:
“Together, Ripple and MoneyGram have decided to end our current partnership agreement. We are proud of the work we have been able to do in a short period of time and the impact we have had in bringing this unique product to market. Together we’ve processed billions of dollars through RippleNet and On-Demand Liquidity (ODL).”
However, the company claimed in the Post that both of them might consider reconsidering their partnership in the coming future, and they are determined to do so.
Garlinghouse stated in the statement that MGI and Ripple are running their partnership successfully as they have processed billions of dollars while using Ripple’s On-Demand Liquidity and RippleNet services. He added more and said:
“While the lack of a Crypto-Reg framework has unnecessarily tarnished the waters for US businesses and consumers, there is no denying what Ripple and MGI have achieved together.”
In his most recent statement, made during an interview with Axios (the financial firm), he said the SEC lawsuit was bad for more than just Ripple. Rather, it will have a negative impact on the entire cryptocurrency industry.