According for press reports It was recently published that Ripple sold 33% of its investment stake in MoneyGram.

Ripple sold 4 million of its shares in MoneyGram, about two-thirds of its total stake in the company.

This decision appears to have been driven in part by the rise in MoneyGram’s share price and Ripple’s desire to spend their money after buying shares at $4.10 per share in 2019.

At the close on November 27, MoneyGram stock fell 4.8% to $7.42 on the Nasdaq.

However, given the history of Ripple’s purchase of MoneyGram shares, the stock has doubled.

Looking at the performance of MoneyGram’s share in the current year, we find it increased by 260% since the beginning of the current year until the date of the announcement of the sale of Ripple, as the share price of “MoneyGram” rose from $2.06 on January 2, 2020 to $7.42 on November 27.

Read:“Twitter” intends to shift to decentralization … by creating a parallel project aimed at achieving this

This means that Ripple will make approximately $30 million if it sells 4 million shares of MoneyGram at current market prices, i.e. a 50% profit.

For your information, the sale process is still in progress.

The aforementioned source quoted a Ripple spokesperson as saying:

This is a purely wise financial decision to make some gains from Ripple’s investment in MoneyGram.

The speaker added:

The sale in no way reflects the current state of our partnership.

According to a US Securities and Exchange Commission filing on November 27, Ripple owns 8.6% of the shares in global money transfer giant MoneyGram.

This is equivalent to 6.24 million shares.

Ripple, which is behind the cryptocurrency project of the same name, has the option to purchase an additional 5.96 million shares pursuant to an injunction.

If this option is executed, Ripple’s total contribution will reach 12.2 million shares, or about 17% of MoneyGram’s shares.

Ripple has now offered 4 million shares for sale.

The shares represent about a third of its entire stake in MoneyGram when the security shares are included.

Read:Facebook for investors: The digital currency project may be canceled due to regulations and regulations

Excluding security shares, Ripple will still own 2.24 million shares, or 3.1% of MoneyGram’s outstanding shares.

Read:Cryptocurrency company BitGo files a lawsuit against Mike Novogratz… Find out why!

A Ripple spokesperson confirmed:

Ripple will remain a significant shareholder in MoneyGram after the sale.

In just over a year, we’ve made amazing progress and look forward to continuing to work alongside MoneyGram to transfer cross-border payments.

As a reminder, Ripple invested $50 million in MoneyGram in November 2019, in what the two entities described as a strategic partnership.

The transaction was completed at a premium price of $4.10 per share at the time of purchase.

MoneyGram uses the XRP-based settlement network and the On-Demand Liquidity (ODL) network to facilitate transfers in Australia, Europe and the Philippines.

Read also:

Ripple CEO Explains Why Companies Are Turning to Bitcoin

Ripple establishes a regional office in Dubai, while plans remain to transform the company’s global headquarters