Ripple Pursues Debt Recovery in Malaysia
Ripple Labs is moving to recover $23,952,480 in unpaid invoices through legal action in Malaysia. A court has granted Ripple a charging order against Seamless Group’s 60% ownership in Tranglo, a cross-border payment network.
The value of the Tranglo stake was estimated at $400 million as of January. The dispute centers around invoices for XRP, Ripple’s native cryptocurrency, that remain unpaid by Currenc Group, which disclosed the debt in a U.S. Securities and Exchange Commission (SEC) filing on October 7th.
A charging order allows Ripple to claim the shares in Tranglo if Seamless Group fails to settle the debt. Tranglo facilitates remittances and cross-border payments across the Asia-Pacific region. Ripple initially invested in Tranglo in 2021, seeking to expand its reach in these key markets. The current legal action represents a shift from strategic investment to debt enforcement.
The outcome of this case could influence Ripple's future investment strategies and its relationships with partners in the Asia-Pacific region. It also highlights the complexities of cross-border financial transactions and the legal challenges involved in enforcing contracts involving digital assets.
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Data captured at: Oct 10, 2026 02:35 (Tehran)
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Source: Bitcoin.com News