The US-based money transfer company MoneyGram International, Inc. has just formed a new partnership with Frente Corretora, one of Ripple’s partners in Brazil, to launch a remittance service in Brazil.
With this newly formed partnership, MoneyGramOnline has been launched in the Brazilian market, allowing users to send money from Brazil to their friends and families around the world in near real time. This service was made possible thanks to the partnership with Frente Corretora, a start-up that uses Ripple’s technology to offer low-cost money transfers.
This development makes more sense considering MoneyGram’s former partnership with Ripple. These two companies have been working together since 2019, however, MoneyGram announced that it suspended trading on Ripple’s platform months after the US Securities and Exchange Commission (SEC) sued Ripple.
