Fintech startup Ripple has just announced the cooperation with the financial company MoneyGram has come to an end. According to the official statement, the decision has been reciprocal:
"We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market."
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Ripple has also added both companies might cooperate again in the future. Even though the reason behind the termination of the partnership is still unknown, MoneyGram has previously said it has not used Ripple's payment solutions.
The announcement coincides with litigation between Ripple and the US Securities and Exchange Commission (SEC).
The regulator has accused the fintech company and two of its executives of raising more than $1.3B through "an unregistered continuous offering of securities in the form of digital assets." According to the SEC, Ripple's co-founder, Chris Larsen, and its CEO, Brad Garlinghouse, have sold unregistered securities to investors in the US and around the world.
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