Ripple Is Cashing Out a Third of Its Stake in Surging MoneyGram
Blockchain payments firm Ripple is selling roughly one-third of its stake in MoneyGram, in its first such sale of company stock since the startup invested in the remittance giant in 2019.
According to a U.S. Securities and Exchange Commission filing on Friday, Ripple owns 6.22 million shares of MoneyGram, or 8.6% of shares outstanding, plus a warrant to buy up to another 5.95 million shares, for a total equity position of 12.2 million shares, or 17% of MoneyGram’s shares outstanding.
Learn more about the news here. (https://www.coindesk.com/ripple-cashing-out-third-moneygram-stake)