The blockchain technology giant also hired Kristina Campbell, previously finance chief at fintech firms Green Dot and PayNearMe, as its CFO.
Ripple's CEO says the company will fight the suit, calling it "an attack on the entire crypto industry and American innovation."
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.
Ripple Labs, creator of the XRP digital currency, failed to maintain money laundering programs or register as a money services business, charges FinCEN.
