A friend told MailOnline: "Paul and Sarah have not spoken since news of their split emerged. He's asked for the ring back, saying that he would send a courier to collect it but doesn't believe she'll give him her address.
"He told her to post it to his best friend so that they can happily go their separate ways."
Mr Edwards, 37, has also also demanded that Ms Elliot repay him £500 he gave her to help fix a friend's car. He has also threatened to go to the media with his version of events about their marriage if she does not call him.
"Paul has also asked her for half the money they made from the sale of their story about their rushed marriage from the media. He says the he plans to give it to charity," said the source.
"Paul is devastated by the way in which Sarah has behaved. She's a disgrace and she's trying to ruin his life by dragging his name through the mud.
"He doesn't want to get involved in a public row and that's why he's determined not saying anything."
Mr Edwards is focused on rebuilding his life, intends to stay single and keep off dating sites, the friend said.
"Paul has no regrets about the marriage and sees it as a learning experience. He feels that he's had a lucky escape and that it's the best thing that could have happened to him.
"He just wants to put the whole matter behind him, get what he's owed and move on. He's optimistic about what the future holds."
Ms Elliot, aged 34, hit back, telling MailOnline that her husband's demands are an indication of the type of behaviour that led to the break up of the marriage.
She described him as "controlling, aggressive and intensely jealous."
Ms Elliot added: "I tried my best to make the relationship work but Paul was not the man who I thought I knew when I was matched with him on Bumble.
"The way he's behaved over the ring and asking for money tells you about the kind of man he is.
"Being with him was an abusive relationship. I couldn't put up with him for any longer. We even tried marriage counselling but he was unable to change his behaviour."
Ms Elliot revealed that she is currently dating two men, one aged 27 and another aged 29 and that she is looking forward to a December divorce.
She added: "I am now committed to a polyamorous lifestyle and it's wonderful. I don't care what people say but I'm never going back to being with just one man again."