Embattled blockchain software company Ripple says it has ended its partnership with money transfer service MoneyGram.
If this feels like deja vu, it's because MoneyGram already dropped Ripple last month as a result of the SEC's ongoing case against the company. In December, the SEC alleged that Ripple's sales of cryptocurrency XRP were unregistered securities offerings.
MoneyGram's move was part of a larger trend in the industry—exchanges like Binance and Coinbase had already delisted XRP, and the digital asset manager Grayscale had distanced itself from Ripple.
But at the time, a Ripple spokesperson told Decrypt that its multi-year partnership deal with MoneyGram was "still in place," and that it was "look[ing] forward to finding a path forward."
Now, Ripple says in a carefully diplomatic press release that the two companies have come to a mutual understanding to officially "end our current partnership agreement."
Today, we’re announcing that Ripple and MGI have together decided to wind down our current partnership agreement, and are both committed to revisiting it in the future. See our full statement: 1/2 https://t.co/KGOzPWuThR
— Brad Garlinghouse (@bgarlinghouse) March 8, 2021
Ripple CEO Brad Garlinghouse tweeted that both Ripple and MoneyGram are "both committed to revisiting [the partnership] in the future."
MoneyGram did not immediately respond to a request for comment.
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