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Ripple, a struggling blockchain software company, said it has ended its partnership with money transfer service MoneyGram.
If that sounds like déjà vu, it’s because MoneyGram already ditched Ripple last month following the ongoing SEC case against the company. In December, the SEC alleged that Ripple’s sales of XRP cryptocurrency were unregistered securities offerings.
MoneyGram’s move was part of a larger industry trend: exchanges like Binance and Coinbase had previously delisted XRP, and digital asset manager Grayscale had distanced itself from Ripple.
But at the time, a spokesperson for Ripple said Decrypt that its multi-year partnership agreement with MoneyGram was “still in place” and that it was “look[ing] eager to find a way forward. “
Now, Ripple says in a carefully diplomatic press release that the two companies have reached a mutual understanding to officially “end our current partnership agreement.”
Ripple CEO Brad Garlinghouse tweeted that Ripple and MoneyGram “are both determined to review [the partnership] in the future.”
MoneyGram did not immediately respond to a request for comment.
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