According to Foresight News, Ripple Labs Singapore Pte Ltd, a subsidiary of Ripple, has filed a lawsuit against UK-based currency exchange and remittance company GCC Exchange. The lawsuit alleges that GCC Exchange failed to fulfill its payment obligations related to a previous XRP liquidity transfer, involving a transaction amount close to €13.8 million (approximately $14.9 million). Ripple is demanding that the defendant pay the invoice amount and late fees. The lawsuit was filed in July 2023 and has only recently been made public. Ripple has initiated legal proceedings in the High Court of England and Wales.