Skip to main content

Stellar: Insiders report a planned takeover of MoneyGram



The Stellar Foundation is considering taking over the payment service provider MoneyGram together with the private equity firm Advent. The rivalry between Ripple and Stellar gets even more explosive.

According to media reports, the Stellar Development Foundation is working with global private equity firm Advent International to acquire leading money transfer company MoneyGram. A Bloomberg report relies on sources with knowledge of the nonprofit's intentions. However, it is not yet clear from the report how exactly the takeover talks will develop.


The takeover is interesting not least because MoneyGram recently ended its important partnership with Stellar rival Ripple. The trigger for this is the dispute with the US Securities and Exchange Commission (SEC), which Ripple has brought to court over its allegedly illegal XRP sales. Then Ripple went and immediately sold its entire stake in MoneyGram, according to a publication by the SEC . The irony of the story is that Stellar was launched by Ripple co-founder Jed McCaleb in 2014. He had turned his back on Ripple after disputes with his former colleagues.

Not only, but also because of ongoing quarrels about their co-founder, Ripple and Stellar have been in a clinch for years. A settlement he ended up in a seven-year agreement with Ripple Labs. McCaleb is now allowed to sell 1.5 percent of the total daily XRP volume. Stellar and Ripple are also rivals because they have a lot in common. In any case, the news about the MoneyGram takeover should not give the two companies any reason to smoke the pipe of peace.


Western Union is also interested in MoneyGram acquisition

With the Stellar Network, Stellar operates a blockchain-based platform that makes it easier for consumers and institutions to transfer funds. The San Francisco-based company already showed expansion efforts in May. It invested $ 15 million in AirTM, a digital wallet and peer-to-peer exchange platform based in Mexico. 

Stellar is by no means the first payment service provider whose interest MoneyGram has attracted. Rumors of a possible takeover of the 81-year-old money transfer giant have been circulating for years. Direct competitor Western Union reportedly made a takeover bid last year. Alibaba-owned Ant Group tried to take over MoneyGram in 2017. The company under the wing of Jack Ma offered 1.2 billion US dollars for the payment service provider at the time. But because the US regulatory authorities feared an impending monopoly position for the merged company, they blocked the deal.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
BetFury - Stack BFG for daily dividends - Play smart!
Pipeflare - Faucet that pays in ZCash and Doge, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS
Cointiply - The #1 Crypto Earning Site
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
Publish0X - Earn Money By Writing and Reading Articles!
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!

FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more