XLM meets as Stellar is rumored to be mulling over the MoneyGram acquisition

cryptoshitcompra.com/wp-content/uploads/2021/07/XLM-se-reune-when-rumorea-que-Stellar-is-reflexionando.jpg »alt =» XLM meets as Stellar is rumored to be reflecting on the 101 acquisition of MoneyGram »class =» content-img »/> Source: Adobe / William

Among the most recent news of a possible acquisition involving the American money transfer giant Moneygram and the Stellar Development Foundation , Stellar (XLM) reunited.

As of 08:52 UTC, XLM, which is ranked 17th by market capitalization, is trading at $ 0.253 and is up 17% in one day, 5% in a week, and 163% in a year. price continues to decline around 70% from its all-time high, reached in January 2018. In May it reached USD 0.727.

Moneygram has received preliminary acquisition interest from Stellar Development Foundation, a nonprofit that supports the Stellar network, which facilitates cross-border payments, and a private equity firm. international advent , Bloomberg reported, citing “people familiar with the matter.”

se people reportedly said that Stellar is working with Advent on a possible acquisition of MoneyGram, but that “a final decision has not been made and that Stellar and Advent may choose not to reach an agreement.”

Meanwhile, MoneyGram rose almost 12% on July 21, priced at $ 11.49. stock has grown 265% over the past year, while the company has a market value of $ 902 million.

report also noted that MoneyGram has been an “acquisition target” for several years. Money transfer service provider Western Union reviewed the acquisition last year, and before that, in 2017, Chinese financial services conglomerate Ant Group agreed to buy it, but then changed its mind due to regulatory pressure.

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As reported, MoneyGram partnered with the bitcoin (BTC) kiosk business Coinme in May of this year to facilitate the buying and selling of this cryptocurrency.

deal came after XRP affiliate Onda announced the end of its association with the company, under which MoneyGram was using XRP in international settlement deals. This in itself was the result of Ripple’s ongoing legal problems with the United States Securities and Exchange Commission (SECOND) .____ To find out more: – Brazilian banking chief says that Venezuelans use Bitcoin and Alt as a “vehicle” – MoneyGram slapped with lawsuit over Ripple and XRP partnership

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