![]() ![]() Meanwhile, apart from the SEC litigation, Ripple is also battling with Tetragon, the lead investor in Ripple’s $200 million Series A, which is asking for its money back. We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments for the benefit of billions of consumers around the world.” Ripple’s shareholder battle “We are both committed to revisiting our relationship in the future. “Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL),” said Ripple in a statement. The Moneygram lawsuit alleges that the company should have been aware that if XRP was found to be a security it would impact Moneygram’s bottom line because it would lose the market development fees. Ripple and Moneygram did a deal in 2019 in which Ripple agreed to make $50 million of XRP available to Moneygram in exchange for an equity interest. ![]() Last week Moneygram itself was the subject of a class-action lawsuit relating to its use of XRP. The underlying messaging solution RippleNet, that several banks use does not use XRP. ODL uses XRP for transfers enabling foreign currency transactions and cross-border payments. This follows the SEC’s December lawsuit against Ripple alleging XRP is a security. A couple of weeks ago, the money transfer company said it stopped using Ripple’s On Demand Liquidity (ODL) solution for the four currencies where it was active. Yesterday Ripple announced its “current” partnership with Moneygram was ending by mutual agreement. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |