MoneyGram Got Another $11M From Ripple to Use Its Cross-Border Payments Tech
Payments firm Ripple has given MoneyGram over $11 million dollars in the past half year, according to regulatory filings with the Securities and Exchange Commission.
It is Ripple's first sale of MoneyGram stock since the startup invested in the remittance giant in 2019.
All in, Ripple has funded the money sender to the tune of over $52 million for providing liquidity to one of its payments products.
"MoneyGram will continue to monitor the situation" following an SEC lawsuit against its part-owner, Ripple, a spokesperson told CoinDesk.
Goldman Sachs and its subsidiaries have sold 9% of their total position in the Ripple-partner MoneyGram – worth approximately $6.5 million.
With the $15.1 million in Q2, MoneyGram has so far received $43 million for providing liquidity for Ripple’s XRP-based settlement system.