According to a supply launched on July 21, the Stellar advancement fund reached out to MoneyGram International about a prospective acquire from the economic giant.
Stellar is functioning with personal equity company Advent on a achievable deal in this deal. However, the end result of the occasion has not nonetheless come to an finish as the MoneyGram side did not disclose even more information and facts.
MoneyGram has attracted curiosity from 1 of the former thriving payment blockchain firms. In November 2019, Ripple finished the acquisition of a $ 50 million stake in MoneyGram.
However, MoneyGram officially canceled its partnership with Ripple in March of this 12 months soon after the United States Securities and Exchange Commission (SEC) filed a lawsuit towards Ripple.
Stellar’s acquisition of MoneyGram would be a unhappy flip in Ripple’s “fate” offered the historic rivalry of the two crypto tasks. Jed McCaleb, the co-founder of Ripple, left the organization in 2013 soon after the remaining members of its leadership went out of business enterprise to observed Stellar.
This is Stellar’s excellent move soon after a time period of silence on the market place. In May, Stellar invested $ 15 million in AirTM, a digital wallet and peer-to-peer exchange platform primarily based in Mexico.
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