TechFlow reports that Ripple Labs Singapore Pte Ltd, a subsidiary of Ripple in Singapore, has filed a lawsuit against UK-based currency exchange and remittance company GCC Exchange, alleging that GCC Exchange failed to meet its payment obligations related to a prior XRP liquidity transfer. The amount involved in the transaction is nearly €13.8 million (approximately $14.9 million). Ripple is seeking payment of the invoiced amount plus late fees. The lawsuit was filed in July 2023 and has recently become public. Ripple has initiated legal proceedings at the High Court of England and Wales.
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