Regulation· ★★★· neutral·

Malaysian Court Charges Seamless' 60% Tranglo Stake in Ripple's $24M XRP Debt Fight

  • —Charge covers Seamless' 60% Tranglo stake, 100,465 shares valued at $400M in January
  • —Debt stems from about $24M in unpaid invoices from GEA Limited tied to Ripple's XRP-based ODL
  • —Currenc's $400M Tranglo sale to New Margin hit its Sept. 30 deadline with no closing
  • —Ripple already owns 40% of Tranglo and can pursue a forced sale from Oct. 7
Why it matters: Ripple is willing to enforce a former ODL partner's guarantee across two jurisdictions, putting Currenc's $400 million Tranglo deal at risk.
#XRP
Source: Bitcoin.com
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