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MoneyGram’s Q1 Earnings Call Reveals A ‘Relatively Quiet Quarter’ in Ripple Expansion

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MoneyGram CEO and Chairman, Alexander Holmes, said that the company’s partnership with Ripple was relatively quiet over Q1, 2020. Speaking during an earnings call, Holmes noted that the two entities have not been as active in new service roll-outs so far this year, making it a ‘quiet quarter’ for the collaboration.

“I WOULD SAY IT WAS A LITTLE BIT OF A RELATIVELY QUIET QUARTER, IN THE SENSE OF REALLY PUSHING ANYTHING PARTICULARLY NEW INTO THE MARKET OR EXPANDING THE SERVICE.”

Ripple and MoneyGram began working together back in June 2019; a partnership that was hyped within the FinTech community. The announcement at the time highlighted that MoneyGram would be using Ripple’s for some of its existing global payment services soon. Ripple, in turn, committed capital of up to $50 million over a period of two years in return for an equity stake.

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