50 Mln XRP Shifted by BitGo, Half of It Went to Ripple's ODL Corridor

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Tue, 10/20/2020 - 12:58
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Yuri Molchan
XRPL Monitor wrote that 50 mln in XRP has been wired by BitGo platform; half of that went to Ripple's ODL corridor, while Ripple-linked Nium expands in Brazil
50 Mln XRP Shifted by BitGo, Half of It Went to Ripple's ODL Corridor
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XRPL Monitor crypto tracking bot has spread the word about several consecutive XRP transactions over the past few hours.

Two of them carried 25 mln XRP each and were both made by BitGoa platform that works with institutional investors, offering them services relating to custody, wallets, exchange and finance.

Previously, Ripple was often spotted transferring large amounts of XRP to BitGo.

Meanwhile, global fintech Nium, which uses Ripple tech solutions, plans to expand to Brazil and Latin America.

Related 88 Mln XRP Moved by Ripple and South Korean ODL Platform
Related
88 Mln XRP Moved by Ripple and South Korean ODL Platform

BitGo wires 50 mln XRP, half goes to ODL corridor in EU

XRPL Monitor spotted two major transactions conducted by BitGo, in the course of which the crypto custodial service shifted 50 mln XRP ($12,158,346).

Twenty-five mln was wired to Bitstamp, Ripple's ODL corridor in Europe (in Luxembourg). Earlier, U.Today covered that BitGo had set up a custodial wallet for Bitstamp.

This year, blockchain giant Ripple intends to set up a few more ODL corridors: in the APEC region, Europe, Africa and the Middle East.

XRP
Image via Twitter

Ripple-connected Nium to expand to Brazil

Nium, a major platform for digital financial services that runs on Ripple, intends to start expanding in Brazil and on to Latin America. It is already working in multiple countries: in Europe, the U.K., the U.S., Canada, Asia, Japan, Singapore and others.

It intends to double the number of its partners in Brazil within the next six months. Nium works with banks, fintech companies and financial institutions.

The company sees Latin America as a broad market for fintech and payment services.

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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.