The merger with Ant Financial will provide MoneyGram with resources to further develop its technology, systems and anti-money laundering and compliance programs.
The eventual refurbishing of the ledger-based stablecoin bridge between crypto and local currencies will begin in early 2022, with an aim to reconnect MoneyGram’s 150 million consumers.
Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners.
XRP, the digital currency that is central to the SEC onslaught, has caught on a new fire fueled by the latest victory Ripple inked.
Beyond Twitter, XRP holders have been looking for avenues to get involved directly with the SEC lawsuit.
In its announcement Ripple noted that it is happy with the progress it had achieved with MoneyGram.
Despite its efforts to resist being affected by Ripple’s crisis, MoneyGram might have a few tough months ahead.
The shares of MoneyGram may bounce back to better days as the legal team representing Ripple reportedly had a great showing in the first court hearing.
MoneyGram has noted that it is not a named party in the SEC vs Ripple lawsuit and that its relationship with the embattled blockchain payment firm remains unchanged barring any new developments.
Earlier this month, Ripple sold $15 million of its MoneyGram stock while not giving any specific reason behind it.
The partnership between Ripple and MoneyGram has been described as symbiotic by most analysts. The latter has been experiencing difficulties in making profits and the XRP incentives have significantly helped it close the debt gap.
