MoneyGram Defines Relationship With Ripple As the Payments Protocol Faces Lawsuit From SEC

US-based financial services company MoneyGram has revealed details of its partnership with Ripple as the payment protocol faces a lawsuit from the US Securities and Exchange Commission (SEC). In the filing, the SEC said Ripple and two of its executives are guilty of selling unregistered securities in an offering. The executives involved are Ripple CEO Brad Garlinghouse and co-founder Christian Larsen. 

Amid the ongoing legal battle, MoneyGram said that the global financial service company does not use RippleNet for forex transactions.

In the press release on the 23rd of December, MoneyGram said:

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