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 BitGo—a 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.
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.
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.