Ripple will become MoneyGram’s main partner for cross-border transactions after purchasing $30 million worth of newly created MoneyGram shares.
The money transfer giant is partnering with XRP owner Ripple, which is betting digital currency will be used as a form of bridge funding.
The demise of $1.2 billion deal suggests U.S. officials are concerned about the data security implications of takeovers by Chinese investors.
Alibaba's financial services affiliate raised its bid to $1.2 billion, apparently beating out rival suitor Euronet.
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