Ripple Labs sold a majority of its investment in MoneyGram in 2019.
In one presentation before the Securities and Exchange Commission on Friday evening, From November 27 to December 4, Ripple Labs managed to sell 2,264,113 shares of MoneyGram (MGI). The technology company received Total of USD 15.30.792.60 for sales.
The value of MoneyGram stock has increased over the past few months from $ 2.94 on October 1st to $ 8.53 on November 23rd. Thanks in large part to news of Ripple’s sell-out, MoneyGram stock was down to $ 6.54 at the time of this writing.
Despite a number of big announcements regarding expansion and integration between the remittance company and Ripple during 2019 The relationship between the two companies appeared to have ended earlier this year.
Ripple initially announced a significant investment in MoneyGram in June last year, what prompted the latter to use The former’s xRapid technology speeds up your payments. XRapid uses XRP to facilitate liquidity.
Ripple, which still holds 48 billion XRP, has downplayed its relationship with the token in recent years, although recent price spikes may change that.