Former Ripple Partner MoneyGram In Talks to Be Purchased By PE-Firm Advent

Yuri Molchan

Private equity firm Advent is negotiating to acquire MoneyGram remittance giant

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Fri, 16/07/2021 - 11:56

Former Ripple Partner MoneyGram In Talks to Be Purchased By PE-Firm Advent

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According to Street Insider, former major Ripple partner MoneyGram could be purchased by private equity firm Advent.

PE-Firm Advent in Talks to Acquire MoneyGram - Street Insider$MGI
— *Walter Bloomberg (@DeItaone) July 16, 2021

MoneyGram used to be a major partner of the Ripple blockchain decacorn. However, on March 9, the company officially terminated its partnership with MoneyGram.

Prior to that, the latter distanced itself from Ripple after the U.S. securities regulatory agency initiated a lawsuit against it and two of its top-tier executives—co-founder Christopher Larsen and current chief executive Bradley Garlinghouse.

Ripple Officially Ends Its Partnership with MoneyGram

A few days after the partnership was terminated, Ripple Labs sold all of the MoneyGram shares it held.

#Ripple News #Moneygram News

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.