Questions Arise from Ripple’s MoneyGram Partnership

According to an SEC filing MoneyGram revealed that Ripple had paid the remittances company more than $11mn in the last two quarters; the company originally booked the capital as revenue until the SEC intervened and it was then changed to “contra expenses” according to the FT; the episode brought more questions as to how the blockchain startup is doing and what is the status of their cross border payments technology; CEO Brad Garlinghouse says the company has hundreds of bank clients using their technology but as the FT reports this claim comes with very little detail; the company does a have high profile relationship with Santander and there is also the deal with MoneyGram, which as of late last year said 10 percent of the US-Mexico business was done using Ripple’s technology; the company has made a name for themselves on creating more efficient payments but there are questions around how successful they have been. Financial Times

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.