Mauritius Post Office. Between late October 2016 and January 2017, MoneyGram's shares doubled in value. On January 26, 2017, Ant Financial Services Group announced a deal to acquire MoneyGram International for $880 million; the deal subsequently collapsed after it was rejected by the Committee on Foreign Investment in the United States. On June 17th 2019, MoneyGram announced they were partnering with Ripple to utilize the digital asset XRP for cross-border remittance. In July 2020, Digital Financial Services LLC and MoneyGram have collaborated to provide overseas remittance services in the UAE. Through this partnership, eWallet consumers will enable real-time foreign money transfers to friends and families in more than 200 countries and territories around the world through an vast network of mobile wallet providers, bank account deposit facilities and more than 350,000 walk-in locations. In February 2022, MoneyGram agreed to be acquired for $1 billion in cash by Madison Dearborn Partners, a private equity firm. Products Money transfers MoneyGram Money Transfer MoneyGram Bill Payments Services - allowing consumers to make urgent payments or pay routine bills to certain creditors. MoneyGram As a service – enables enterprise customers to leverage the company’s core capabilities as productized service offerings to meet their various business needs and add services and scale. Financial paper Money Orders - MoneyGram is the second largest money order supplier. Official Checks - MoneyGram offers official check outsourcing services which are available to financial institutions in the United States. Official Checks are used by consumers where a payee requires a check drawn on a bank and by financial institutions to pay their own obligations. Cryptocurrency Cryptocurrency Cash Network – Through a relationship with Coinme, consumers can purchase or exchange bitcoin for U.S. dollars at select MoneyGram retail locations. Legal cases In November 2012, MoneyGram International admitted to anti-money laundering and wire fraud violations. MoneyGram services were used by unrelated parties involved in mass marketing and consumer phishing scams that defrauded thousands of victims in the United States. As a part of the settlement, MoneyGram created a $100 million victim compensation fund. MoneyGram also retained a corporate monitor who will report regularly to the United States Department of Justice for a five-year trial period. If MoneyGram fulfills its obligations under the settlement, prosecutors will seek dismissal of the charges of aiding and abetting wire fraud. MoneyGram also terminated any agents complicit in the 2009 scams and invested more than $84 million