Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Crypto tracker Whale Alert has spread the word about nearly 200 million XRP transferred by Ripple fintech behemoth and its major ODL corridor, Bitso.
Major U.S.-based exchange Bittrex has also taken part in this, sending some millions of XRP to Bitso.
Ripple, Bitso and 190 million XRP
According to Whale Alert's recently published tweets, Ripple has sent 30,000,000 XRP to its ODL platform and partner — Mexico-based crypto unicorn Bitso exchange. In fiat, this is worth $10,875,778.
Besides, Bitso has shifted nearly 110 million XRP tokens among its internal wallets, according to Whale Alert, moving them in transfers of 78,900,000 and 31,200,000 XRP. This is the equivalent of $90.65 million.
Bittrex crypto giant wired 50,000,000 XRP to Bitso as well.
Ripple regularly supports its liquidity platforms, sending large amounts of XRP to them. Bitso is one of the first platforms that began to collaborate with the blockchain behemoth from San Francisco on its On-Demand Liquidity product (running on RippleNet) that allows sending funds cheap and fast between countries without utilizing prepaid accounts.
🚨 50,000,000 #XRP (18,179,634 USD) transferred from unknown wallet to #Bitsohttps://t.co/YDbDWh4xfk
— Whale Alert (@whale_alert) August 19, 2022
Ripple sets up new ODL corridor recently
As reported by U.Today earlier this week, Ripple has teamed up with Brazil's Travelex Bank, inking a strategic partnership with it.
It will be the first bank in Brazil and Latin America overall that will begin using Ripple's network for payments, RippleNet.
The bank's authorities plan to set up a new ODL corridor between Brazil and Mexico, where the aforementioned Bitso exchange operates, also using RippleNet.
Earlier this year, in spring, Ripple had initiated a partnership with FINCI — an online platform for transnational payments operating in Lithuania, thus setting up a new liquidity path from the EU to Mexico.
Alex Dovbnya
Valeria Blokhina
