MoneyGram signed the contract with Ripple (XRP) platform since 2019 in order to “use Ripple’s foreign exchange (FX) blockchain trading platform (ODL) for the purchase or sale of four currencies” . MoneyGram clarified .
The company uses the Ripple (XRP) for faster transactions.
Last year , The famous company Moneygram had realised a gain of 50.2 $ just because it uses the Ripple platform. And now ( On February 2021 )has announced that it had stops using XRP platform. And this is required for the proceedings against Ripple Labs.
On Monday the company has published that. “In the first quarter of 2020, the company realized a net expense benefit of $12.1 million from Ripple market development fees”. And they added that by the end pf the year it earned “$8.5 million net benefit from Ripple market development fees of $9.2 million, partially offset by related transaction and trading expenses of $0.7 million”.
The SEC process mollify that “Much of the onboarding onto ODL was not organic or market-driven. Rather, it was subsidized by Ripple ‘’.
The regulator clarified the deal with : ” Though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter … Found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple”.
The CEO of the SEC has explained anonymously the transmitter with:
Predictions ripple XRP 2021
The predictions of Ripple (XRP) , This Moneygram’s movement allows a decrease of Ripple (XRP) market. That doesn’t mean that the Ripple will lose his importance,No! The ripple’s technology is very strong than that . And the market will up again until reaching by the end of the 2021 10$.
So let’s wait an others movements ! like MoneyGram uses Ripple (XRP) again.