February 26, 2020, 7:33AM EST
• 2 min read

Why is MoneyGram recognizing Ripple's payments as a contra expense?

Quick Take

  • MoneyGram changes the accounting method for recognizing the fees paid by Ripple for its usage of RippleNet
  • Instead of recognizing it as revenue, MoneyGram now states it as a contra expense as per guidance from the SEC
  • When asked by an analyst why the SEC would suggest such a change, CFO Lawrence Angelililli responded by saying, “To be honest, we’re still scratching our heads about it too.”

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