Home | Crypto News | Ripple’s Acquisition Of MoneyGram Seems To Have Been Just Fake News

Ripple’s Acquisition Of MoneyGram Seems To Have Been Just Fake News

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Ripple’s acquisition of MoneyGram seems to have been just fake news. Everything started with the Twitter user CryptHawk saying that it was confirmed that Ripple acquired MoneyGram and that everything was signed on Monday, June 3. However, some recognized XRP and Ripple followers mentioned that this is just fake.

Ripple’s Acquisition Of Money Gram Was Fake News

Ripple is one of the most recognized companies in the cryptocurrency space. The firm is currently working with financial firms and companies around the world in order to help them process cross-border payments in a cheap and fast way.

MoneyGram is a remittances platform that connects individuals around the world allowing them to send and receive funds. Ripple has already partnered with MoneyGram in the past. In 2018, the firms signed a partnership in order to improve the payments sector. MoneyGram decided to integrate the xVia product released by Ripple.

About the rumoured acquisition of MoneyGram by Ripple, none of the companies commented anything special about it. Indeed, David Schwartz, the chief technology officer of Ripple, said that he had no comments to make about it.

About the previous partnership with MoneyGram, Brad Garlinghouse, the CEO of Ripple, commented:

“We are excited about this pilot and long-term strategic partnership with MoneyGram. By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information.”

There were some XRP and Ripple Twitter users that explained that everything was fake news. For example, C3|Nik, Tiffany Hayden and XRP Research Center, informed that the rumour about MoneyGram was fake. Indeed, if there is no confirmation from the company, that means that there is no deal. These accounts have accused CryptHawk of scamming the community with fake news.

Indeed, when he was asked about the source of his statements, CryptoHawk did no answer more than that he knew it and there were no more questions to do.


Currently, XRP is the third largest digital asset after Bitcoin (BTC) and Ethereum (ETH). The virtual currency has a market capitalization of $17.44 billion and a price per coin of around $0.41. We have contacted MoneyGram but they have not answered our questions regarding these rumours.

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