Ripple's $24M XRP Debt Fight Puts a $400M Tranglo Stake on the Block
A Malaysian court has given Ripple a charging order over Seamless Groups 60% stake in Tranglo, a holding priced at $400 million in January, to collect roughly $24 million in unpaid XRP invoices. Key TakeawaysThe High Court of Malaya made absolute a charge over 100,465 Tranglo shares held by Seamless on Oct. 1.Currencs $400M Tranglo sale to New Margin had a Sept. 30, deadline and no disclosed closing.Ripple may seek a court-approved sale from Oct. 7, while Seamless can still contest valuation. The Massive $23,952,480 Figure Explained It is the unpaid principal Nasdaq-listed Currenc Group disclosed in an Oct. 7 filing with the U.S. Securities and Exchange Commission (SEC), before adding late fees and court costs. The debt traces back to Ripples on-demand liquidity (ODL) service, which uses XRP as a bridge between two fiat currencies. According to the Singapore High Court judgment, GEA Limited, a Hong Kong remittance firm then owned by Seamless, signed an XRP purchase agreement and a $5 million line of credit with Ripple on Sept. 12, 2022. GEA ran up four invoices, one in October 2022 and three in March 2023, and paid only $8,455,740 toward one of them. Ripple withdrew the ODL service on March 11, 2023, after the









