MoneyGram- the Global money transfer service provider suspends its collaboration with Ripple- blockchain payments firm, due to the latter's litigation with the Securities and Exchange Commission. The partnership had begun three years ago when MoneyGram integrated XRP into its payment system. In November 2019, with a $50 million investment, Ripple had a 10% stake in the company. However, in December 2020, Ripple had roughly sold $15 million MoneyGram stock. After which legal action was to be taken by the U.S. Securities and Exchange Commission against Ripple and its CEO- Brad Garlinghouse, and co-founder- Christian Larsen, for attempting to distance itself from the firm.
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