With the SEC probing Ripple, MoneyGram sidelines its partner to nurture online operations, which hit a milestone by surpassing in-store Walmart remittances in December.
MGI Shares Up 18% Following Strong MoneyGram Digital Transactions Report over Holidays
Jan 6 2021 · 09:38 UTC by Benjamin Godfrey · 3 min read
Photo: Shutterstock
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MoneyGram has noted that it is not a named party in the SEC vs Ripple lawsuit and that its relationship with the embattled blockchain payment firm remains unchanged barring any new developments.
American money transfer company MoneyGram International Inc (NASDAQ: MGI) has seen a tremendous surge in its shares following the report of a strong digital transaction in December, especially during the holidays. Per an official release, the company’s direct-to-consumer digital business, MoneyGram Online (MGO), delivered 142% year-over-year cross-border transaction growth in the previous month and reported the largest number of transactions ever in a given month.