Ripple’s Legal Battle Over Tranglo Shares and XRP Debt
- The High Court of Malaya confirmed a charge over Seamless’ 100,465 shares in Tranglo on October 1.
- Currenc’s $400 million sale of these shares to New Margin had a September deadline with no disclosed closing.
- Ripple may pursue a court-approved sale from October 7, while Seamless can contest the valuation.
- Ripple is owed $23,952,480 by Seamless for unpaid invoices related to its on-demand liquidity service using XRP.
- Ripple already owns a 40% stake in Tranglo and aims to secure the remaining shares held by Seamless.
Ripple’s legal pursuit involves recovering nearly $24 million from Seamless, linked to unpaid debts from their previous partnership involving XRP transactions. The case highlights Ripple’s strategy to secure its financial interests across jurisdictions by targeting assets like the Tranglo shares in Malaysia.
