<h2 id="header-0">Key Facts</h2>
<ul>
 <li>A Malaysian court has made a charging order absolute over 100,465 Tranglo shares owned by Currenc Group subsidiary Seamless, Currenc said in an SEC filing, adding it was informed on Oct. 1.</li>
 <li>The order lets Ripple Markets APAC pursue enforcement of a Singapore judgment for $23.95 million in principal that the filing says remains unsatisfied.</li>
 <li>Currenc agreed in January to sell the same shares, its 60% controlling interest in Tranglo, for $400 million.</li>
</ul>
Ripple's Singapore-based unit can seek a court-ordered sale of a controlling stake in cross-border payments firm Tranglo to collect on a judgment with $24 million in principal, after a Malaysian court made a charging order absolute over the shares, Nasdaq-listed Currenc Group disclosed.
The shares are the same 60% stake that Currenc agreed in January to sell for $400 million, putting a payments firm in which Ripple agreed to buy a minority stake in 2021 at the center of a debt dispute.
Currenc was informed on Oct. 1 that the High Court of Malaya had made the charging order absolute over 100,465 Tranglo shares owned by its subsidiary Seamless Group, according to a Form 6-K <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/1862935/000149315226046169/form6-k.htm">filing</a> dated Oct. 7.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9de5df00daf44d25a988c1a4bd28aed6.png">
Currenc Group revealed the move in an October filing. Source: <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/1862935/000149315226046169/form6-k.htm">SEC</a>
The order stems from a Singapore High Court summary judgment entered in April 2025 against Seamless and GEA Limited in favor of Ripple Markets APAC Pte. Ltd., which Ripple has <a target="_blank" rel="noopener noreferrer nofollow" href="https://ripple.com/ripple-press/ripple-obtains-in-principle-regulatory-approval-in-singapore/">described</a> as its Singapore subsidiary.
As of Currenc's April 30 annual report, the two were jointly and severally liable for a principal sum of $23,952,480, plus late payment charges and costs, and the judgment "remains unsatisfied," the filing says.
Beginning Oct. 7, Ripple Markets APAC "may commence further proceedings" to enforce the order and seek a sale of the shares. "Any such sale would require further enforcement proceedings," Currenc said, adding that Seamless may seek to protect its interests, including on valuation.
<h2 id="header-1">Currenc's $400M Tranglo Sale Carried a Sept. 30 Deadline</h2>
The enforcement step lands on shares Currenc agreed to sell. In January, the company agreed to sell its 60% controlling interest in Tranglo, the same 100,465 shares, to New Margin Holding for $400 million, according to an earlier <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/1862935/000149315226000183/form6-k.htm">filing</a>.
That deal called for $200 million at closing and $200 million 90 days later, subject to regulatory approval and third-party consents. The agreement was set to terminate automatically if its closing conditions were not satisfied or waived by Sept. 30, 2026.
Ripple agreed to buy 40% of Tranglo in 2021, Tranglo <a target="_blank" rel="noopener noreferrer nofollow" href="https://tranglo.com/press/ripple-acquires-40-stake-in-asias-leading-cross-border-payments-specialist-tranglo/">said</a> at the time. Ripple's payment network uses <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/distributed-ledger-technology-dlt">distributed ledger technology (DLT)</a>, and its On-Demand Liquidity service uses the <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/digital-asset">digital asset</a> XRP (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/xrp/">XRP</a>) to send money across borders.
Read More:&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/can-xrp-make-a-real-comeback">When Will XRP Price Stage a Comeback? Here Is What to Look For</a>

Ripple Unit Moves to Enforce $24M Judgment Against Tranglo Shares

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