143 Million XRP Moved As Ripple’s Partner Bitso Launches New Remittance Corridor

As reported by major crypto tracking service Whale Alert, roughly ten hours ago, a large transaction, carrying $55,960,040 worth of XRP was detected.

143 million XRP on the move

A staggering 143,000,000 XRP was transferred between two wallets that Whale Alert tagged as “unknown”.

Earlier than that, the aforementioned crypto tracker reported three smaller transactions. They moved a total of 104.7 million - 37,700,000 XRP, 27,000,000 XRP and 40,000,000 XRP.

🚨 🚨 🚨 🚨 🚨 143,000,000 #XRP (55,960,040 USD) transferred from unknown wallet to unknown wallethttps://t.co/L7ZXlsCY70

— Whale Alert (@whale_alert) December 9, 2022

Overall, this autumn and since the start of December too, whales have been quite active in buying, selling and simply transferring massive amounts of the Ripple-affiliated token XRP between their wallets. Obviously, despite the lawsuit initiated by the SEC in late 2020, whales are obviously expecting Ripple to win, hoping that the price of the asset will soar to new highs and recover or even surpass the historic peak of $3.84 reached in early January 2018.

At the time of this writing, XRP is trading 89.91 percent below that all-time high, exchanging hands at $0.388 and showing a 1.12 fall in the past 24 hours.

Ripple partner Bitso launches new remittance corridor

According to Crowfund Insider, this week, major Ripple partner Bitso crypto exchange entered into a partnership with Felix Pago in order to launch a new remittance corridor from the US to Mexico, where Bitso is based.

The geography of Bitso operations includes Brazil, Colombia, Argentina and Mexico. This is the largest crypto exchange in Latin America and is the only crypto unicorn in this region. The new remittance service is intended to provide cheap and fast money transfers for customers.

It was not mentioned in the press-release but since Bitso is a well-known distributor of Ripple’s ODL technology in Latin America, odds are high that ODL will be used in this case too.

Curiously, Felix Pago’s money transfers work via WhatsApp. If in this case Ripple’s ODL tech will be operating via a popular messaging app, this would be a break through for crypto adoption and utility.

A few years ago, Facebook was planning to launch payments, using the stablecoin they were building, in India, also using WhatsApp. Those plans, however, did not come true.