MoneyGram's decision to integrate Litecoin into its crypto services and the coin's upcoming halving event has served as catalysts behind LTC's price rally.
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The bankrupt crypto lender has been accused by customers of being a Ponzi scheme. Meanwhile, Binance's $500 million investment in Elon Musk's Twitter has been confirmed.
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According to the company, users within select regions can now trade and store Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
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The payment service, which is powered by the Stellar blockchain, will enable USDC settlement with MoneyGram in “near-real-time.”
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MoneyGram CEO Alex Holmes said the international remittances stalwart wants to be a bridge between the crypto and fiat worlds.
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The investment follows a May 2021 partnership between the two firms aimed at expanding access to crypto-fiat exchanges.
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The partnership will enable MoneyGram customers to fund and withdraw from their accounts using the USDC stablecoin at physical branches.
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MoneyGram customers in the United States will soon be able to buy Bitcoin in the country’s retail outlets across the country.
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While the partnership between Ripple and MoneyGram has been officially terminated, the two firms have expressed they are open to resuming collaboration in the future.
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Ripple partner MoneyGram is facing a lawsuit alleging the firm issued misleading statements and failed to disclose XRP's status as an unlicensed security.
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"Due to the uncertainty concerning their ongoing litigation with the SEC, the company has suspended trading on Ripple's platform," says MoneyGram's quarterly outlook.
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MoneyGram sheds light on the nature of its partnership with Ripple.
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Ripple's partnership with MoneyGram may not be as warm as it once was, but it's paying off.
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MoneyGram saw a significant rise in user transaction numbers for May 2020 compared to the same period last year, coinciding with a partnership with Ripple that began last June.
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According to Bloomberg, financial giant Western Union has made an offer to purchase cross-border payments company MoneyGram.
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