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Blockchain firms R3 and Ripple locked in legal tussle

September 11, 2017


The blockchain duo of R3 and Ripple are suing each other over an options contract to purchase Ripple’s digital currency XRP, according to Reuters.

In September 2016, the two companies entered an agreement giving R3 the right to purchase up to five billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court in the US.

In June 2017 Ripple’s chief executive Brad Garlinghouse attempted to terminate the options contract through an email to R3’s chief executive David Rutter, according to the R3 lawsuit.

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