@Raja_MBZ. I also posted an article about Moneygram dumping all the XRP that are paid to them by the Ripple decelopment team because according to Moneygram, they might be chargeable under law on holding XRP.
It appears that Ripple is continuing to pay them XRP to use their platform and Moneygram is also continuing to dump them hehe.
Ripple has paid money services firm MoneyGram more incentives in the first quarter of 2020, amounting to a total of $16.6 million.
The publicly-traded remittance company revealed the figure in its Q1 financial results, published on Friday, saying that its total operating expenses include "Ripple market development fees of $16.6 million, partially offset by related transaction and trading expenses of $4.5 million."
Ripple pays MoneyGram incentives for using its RippleNet solution, and MoneyGram categorizes these payouts as a "contra expense rather than revenue" and as a "market development fee based on the volume of foreign exchange that we transact on Ripple's platform."Read in full https://www.theblockcrypto.com/post/63855/ripple-paid-16-6-million-in-xrp-incentives-to-moneygram-in-q1-2020While MoneyGram receives incentives in XRP, it does not hold the digital asset for long. "We sell XRP as soon as we receive it – we don't hold any XRP," a MoneyGram spokesperson told The Block earlier this year.Source https://www.theblockcrypto.com/daily/58860/we-sell-xrp-as-soon-as-we-receive-it-says-moneygram-on-ripple-incentive-paymentsBut., but...you forgot important parts:
"Reported 57% Digital transaction growth for the quarter, marking a continued acceleration from the fourth quarter 2019. Performance was driven by market expansion, high customer retention rates, and strong demand for the MoneyGram app
As the crisis unfolded, MoneyGram quickly shifted its marketing and operational focus to its online and digital capabilities to ensure customers were able to continue to seamlessly send and receive money from the safety of their own homes, in more than 70 countries
At quarter end, Digital transactions accounted for 18% of all money transfer transactions, and this percentage has grown significantly to 28% in the first 27 days of April
MoneyGram Online, comprising 73% of the Digital business, remained a key driver, with transaction growth of 60% for the quarter, and 66% in the post-COVID period, powered by:
Triple-digit growth in both the U.S. Outbound and International markets
App downloads increasing 46%
App transaction growth exceeding 200%Improvements in customer retention rates of 23%, and monthly active customers of 40%
Transactions sent direct-to-account or wallet
increased 80%, and in April these growth rates have improved further to more than
triple digits"
from your own link at
http://ir.moneygram.com/news-releases/news-release-details/moneygram-international-reports-first-quarter-2020-resultsIts as if you're having an agenda?
