Bitcoin
$44,128.30+4.42%
Ethereum
$3,121.99+6.85%
XRP
$1.01+6.95%
Cardano
$2.26+8.71%
Polkadot
$31.85+13.79%
Stellar
$0.298479+7.89%
Dogecoin
$0.224295+6.74%
Chainlink
$24.41+7.99%
Uniswap
$21.58+7.47%
Polygon
$1.24+11.08%
Algorand
$1.93+14.63%
Cosmos
$40.38+23.86%
Litecoin
$160.86+4.93%
Bitcoin Cash
$545.97+4.66%
Wrapped Bitcoin
$44,142.75+4.42%
Filecoin
$74.50+5.01%
The Graph
$0.740809+6.89%
Tron
$0.099200+8.69%
Ethereum Classic
$50.99+6.83%
Tezos
$5.69+15.43%
Aave
$305.10+6.23%
Monero
$248.35+9.03%
NEO
$43.08+9.57%
EOS
$4.33+6.35%
IOTA
$1.39+6.72%
BitTorrent
$0.003521+6.82%
Bitcoin SV
$147.17+2.39%
Maker
$2,552.64+5.68%
Waves
$24.74+6.76%
Dash
$174.34+6.14%
Decentraland
$0.731067+12.03%
Decred
$118.38+6.39%
ICON
$1.67+8.02%
NEM
$0.161483+6.99%
Zcash
$120.95+4.32%
OmiseGO
$9.68+8.93%
Paxos Standard
$0.999942-0.93%
NuCypher
$0.293212+8.36%
Yearn Finance
$30,891.25+6.87%
Qtum
$10.74+10.15%
Bitcoin Gold
$55.95+7.08%
Basic Attention Token
$0.698400+9.74%
0x
$0.971928+10.12%
Fetch.ai
$0.752579+14.30%
Bancor
$3.64+5.84%
Ren
$0.825733+6.81%
Kava.io
$5.53+12.10%
Siacoin
$0.016311+9.74%
Band Protocol
$7.87+8.26%
Nano
$5.13+12.61%
Loopring
$0.410876+5.22%
Storj
$1.16+8.05%
Numeraire
$43.63-0.56%
Lisk
$3.08+7.52%
Civic
$0.435124+7.61%
Orchid
$0.353046+4.08%
PAX Gold
$1,770.07-1.00%
Enzyme
$155.58-2.61%
Augur
$22.54+11.09%
Aragon
$5.13+9.29%
district0x
$0.157427+7.94%
Kyber Network
$1.56+6.51%
SingularDTV
$0.001383+3.20%
Tether
$1.00+0.03%
USD Coin
$1.00-0.02%
Dai
$1.00-0.13%

Goldman Sachs Sells $6.5M of Shares in Ripple Partner MoneyGram: SEC Filing

Goldman Sachs and its subsidiaries have sold 9% of their total position in the Ripple-partner MoneyGram – worth approximately $6.5 million.

Aug 13, 2020 at 12:19 p.m. UTC
Updated Sep 14, 2021 at 9:43 a.m. UTC

Goldman Sachs has sold more than $6 million worth of shares in MoneyGram, the remittance company that provides liquidity for Ripple's XRP settlement layer.

  • The U.S. investment bank and its subsidiaries this week informed the Securities and Exchange Commission (SEC) it had sold over 14,000 shares of Series D Preferred Stock in MoneyGram between August 5 and August 10.
  • This is convertible into nearly 1.8 million units of common stock, worth a total of $6.5 million on the Nasdaq at press time.
  • Based in Texas, MoneyGram has collaborated with Ripple since it started testing XRP for its international payments rails in January 2018.
  • Since H2 2019, the remittance company has received more than $40 million in "market development fees" from Ripple Labs in return for providing liquidity to its On-Demand Liquidity (ODL) network.
  • Ripple completed the purchase of a $50 million equity stake in MoneyGram last November.
  • Despite the sell-off, Goldman Sachs still owns well over 18 million units of common stock – a larger stake than Ripple Labs – at a total of $65 million worth.
  • It's unclear why Goldman decided to sell approximately 9% of its position in MoneyGram.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...