Ripple Partners also Face Accusations

By curation-man | Curation-Man | 4 Mar 2021

Notarized legal case against "MoneyGram" for deceiving financial backers who use XRP

MoneyGram is currently facing a legal case accusing it of misdirecting the financial backers using XRP cash up front.

For the benefit of financial backers who purchased protection from MoneyGram in 2019, the legal organization has documented a legal case against MoneyGram.

The law firm confirms that any financial supporter who purchased parts of "MoneyGram" between June 2019 and February 22 of this year is eligible for compensation, given that "MoneyGram" entered an organization with Ripple, and according to the protest, the attendant:

Respondents made false and / or misleading advertisements and / or neglected to disclose that XRP, the digital currency that MoneyGram was using as a feature of the Ripple partnership, had been deemed by the SEC as an unregistered collateral and thus illegal.

The grievance asserts that the financial backers have suffered damage and that MoneyGram deceived the financiers about the XRP digital currency. With a good adjustment in the XRP impression, the financial backers are eligible for a fee.


MoneyGram and organize it with Ripple:

In late February, MoneyGram announced that it was withdrawing its organization with Ripple by accidentally suspending the use of advanced cash XRP on its foundation.

MoneyGram discontinued its organization with Ripple due to the current situation

MoneyGram recently teamed up with Ripple to exploit XRP in its transportation departments, generating $ 60 million in benefits.

MoneyGram used the innovation of Ripple to gradually settle premiums on unfamiliar trades in a secure manner.

Computerized Cash XRP has been used to change unfamiliar monetary forms such as the Mexican Peso, Philippine Peso, Australian Dollar and Euro, to other country monetary standards easily via the blockchain.

Through MoneyGram and Ripple from 2019 to 2020, XRP has been used at MoneyGram to encourage asset exchange.

In 2018, MoneyGram was among the first to try out cash advance XRP in regulating line-of-line cash transfer departments.

Despite this, with the Securities Commission documenting a claim against Ripple, among the charges brought against Ripple by the Observer is that XRP is an unregulated and unregistered security, leading MoneyGram to announce that it will stop using XRP according to its rule.

The option to quit using XRP at MoneyGram may have passed the point of no return, as the money transfer organization is currently facing legal action from angry financial backers asserting that MoneyGram deliberately deceived them.



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