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Money transfer company said it “doesn’t expect any profit from Ripple market development fees” in the first quarter In the first quarter of last year, MoneyGram collected $ 12 million from these charges

MoneyGram withdraws from partnership with Ripple Labs citing legal uncertainty swirling around blockchain startup’s XRP token

The money transfer company said on Monday that it “expected no profit from Ripple market development fees in the first quarter” of 2021, a break from the first quarter of last year when MoneyGram had collected $ 12 million from these charges

Ripple has been paying MoneyGram to use the XRP token in international settlement since 2019 and first engaged in a pilot deal with the service in 2018 Since then, MoneyGram has reported $ 61.5 million in “development costs of ‘Ripple market

These payments now appear to be on hold, at least until legal breach between Ripple Labs and US Securities and Exchange Commission clarifies SEC prosecutors say XRP is an unregistered security in violation of US law. investments, a claim Ripple Labs has sworn to fight

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