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    Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

    Ripple terminates its multi-year partnership with MoneyGram

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision 1

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision

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    Ripple price analysis: XRP/USD grinds towards $0.50 resistance

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    Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

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    Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

    Ripple terminates its multi-year partnership with MoneyGram

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision 2

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision

    BTC/USD Price

    BTC/USD Price Prediction: BTC/USD historic uptrend fails to respond to 1.6% rising treasury bonds

    XRP/USD Price

    XRP/USD Price Prediction: Should bulls prepare for an XRP/USD ATH above $0.7000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Ripple price analysis XRPUSD grinds towards $0.50 resistance

    Ripple price analysis: XRP/USD grinds towards $0.50 resistance

    Bitcoin price analysis Breakout to fresh highs imminent as BTCUSD crosses $51K

    Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

    Polkadot price

    Polkadot price prediction: DOT to fall to $28

    XRP

    XRP will exist forever – Brad Garlinghouse

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Home News Exchange News

Derivative platform, Bybit announces partnership with Borussia Dortmund

Ibiam Wayas by Ibiam Wayas
November 5, 2020
in Exchange News
2 min read
Derivative platform, Bybit announces partnership with Borussia Dortmund
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  • Bybit has become a partnering crypto exchange of German’s professional club, Borussia Dortmund. 
  • The partnership is based on mutual brand marketing. 

The football industry is one other prominent sector that is waking to mainstream crypto adoption. Many professional football clubs have recently announced a partnership, sponsorship, and fan token development, all of which continue to create awareness for digital currencies. Today, Borussia Dortmund (BVB) is looking to leverage the cryptocurrency industry to expand its international reach, particularly in Asia.

Bybit enters partnership with a German football club

According to the announcement on Thursday, the German football club reached a multi-year partnership with Bybit, a digital currency derivatives exchange based in Singapore. The development is basically tied around mutual brand outreach and marketing. Through the partnership, the German professional club intends to expand its reach in the Asian continent, according to the Managing Director, Carsten Cramer.

Borussia Dortmund is reportedly the seventh-largest professional football club with the highest number of fans/supporters. So far, the German club has won several Bundesliga titles, including a Champions League trophy back in the 90s. By becoming a partner and BVB-supporting crypto company, the CEO of Bybit, Ben Zhou, commented that the partnership solidifies their intention to run the derivatives services in the long-term.

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Crypto goes mainstream in the football industry

It’s interesting to see that cryptocurrency companies can actually cooperate with football clubs. Being one of the biggest sporting activities, more partnerships from football clubs can eventually result in more crypto adoption. Already, other professional football clubs in Span, France, Italy, etc., are engaged in cryptocurrency, although not via company partnership. Recently, FC Barcelona, Paris Saint Germain (PSG), and Juventus launched blockchain-based tokens to promote engagement with fans. 

Also, on September 16, another football club, Lazio, entered the cryptocurrency space via a partnership with a crypto exchange, StormGain, to promote its engagement with supporters. 

Tags: cryptomarketGermany
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

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