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190 Million XRP Shifted by Ripple and Its Leading ODL Corridor

Fri, 08/19/2022 - 15:09
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Yuri Molchan
Ripple behemoth and its ODL corridor have moved more than 190 million XRP
190 Million XRP Shifted by Ripple and Its Leading ODL Corridor
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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.

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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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.