Ripple and U.K.-based firm GCC Exchange have settled their legal dispute.
Last year, Ripple accused bitcoin the firm of neglecting financial obligations for over 40,000 XRP transfers.
The dispute now lays to rest with both parties reaching a confidential agreement.
The Singapore arm of crypto payment firm Ripple Labs and U.K.-based fintech firm GCC Exchange have successfully settled their $15 million legal dispute. Initially, the dispute revolved around allegations of nonfulfillment of payment obligations related to XRP transfers.
Yash Rajesh, Director of GCC Exchange, provided insights into the resolution in an exclusive interview. When asked about the current standing of the legal dispute, Rajesh remarked:
GCC Exchange UK Ltd has resolved the dispute with Ripple. The parties have entered into a confidential settlement agreement with no admission of liability.
XRP community figure “WrathofKahneman” called attention to the development in a recent statement on X.
#Ripple has ended its lawsuit against partner GCC Remit. In Sept. they sued for ~$15m in unpaid invoices for >40k #XRP. (Assuredly for their ODL use) “The parties have entered into a confi…
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