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Ripple Now Lets Customers of Major Crypto Exchange Instantly Deposit USD

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  • Alex Dovbnya
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    Bitstamp customers can now fund their accounts with USD in no time because of a new Ripple ODL corridor opened by FlashFX

Ripple Now Lets Customers of Major Crypto Exchange Instantly Deposit USD
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The users of Bitstamp, one of the biggest cryptocurrency exchanges, are now able to instantaneously fund their accounts with the US Dollar. This became possible after Australia-based FlashFX opened a new Ripple On-Demand Liquidity (ODL) corridor.

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Ripple Unlocks $225 Mln Worth of XRP, Crypto Community Fears Another Price Drop

New corridors, new adoption milestones

As reported by U.Today, Ripple surpassed 300 customers back in November, which made 2019 the company's strongest year to date. As of now, two dozen companies rely on Ripple's ODL solution for cross-border payments. Their customers include FlashFX, goLance, Viamericas, and major money transfer company MoneyGram.       

"As one of the earliest adopters of Ripple’s On-Demand Liquidity, we’ve seen the benefits firsthand of the product and its potential to not only dramatically improve cross border payments for customers, but to also impact our bottom line," said Nicolas Steiger, CEO of FlashFX.

Recently, the blockchain behemoth finalized its $50 mln investment in MoneyGram to release new payment corridors in Europe and Australia. The deal stipulates that XRP must be used as a bridge currency, which is supposed to propel the token's adoption. 

On Nov. 23, XRP's daily transaction volume reached a new all-time high, surpassing the 4 mln mark for the first time.

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Better than SWIFT

In its new post, FlashFX states that Bitstamp users no longer have to wait days for a SWIFT transfer to be completed. As reported by U.Today, Ripple CEO Brad Garlinghouse claimed that XRP was a better alternative to SWIFT payments. 

While the XRP token remains volatile, Ripple can process transactions so fast that its customers are unlikely to be affected by any significant price drop. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years

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  • Yuri Molchan
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    The Whale Alert account reports that nearly 89,000 ETH was wired to Poloniex from a wallet that had remained inactive since April 2018

$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years
Cover image via u.today

On Friday, the Twitter account Whale Alert that tracks large movements of crypto on the blockchain, spotted nearly 89,000 ETH (that’s around $13 mln in Ethereum) sent to the Poloniex exchange.

The account points out that the wallet which sent the money had been inactive since April 1 last year. No one has used it for nearly two years, apparently, waiting for the crypto winter to be over and hoping for a price surge afterwards.

One of the possible reasons of this wallet becoming active again is the Ethereum hard fork Istanbul which is about to happen today, on December 7, at block 9069000.

Very often the price of an asset goes up after a major upgrade (the Istanbul hard fork will not cause an appearance of a separate coin as it was with Ethereum Classic).

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Earlier, U.Today reported that the South Korean exchange Upbit suffered from a hacker's attack and lost around $50 mln in Ethereum. Whale Alert on Twitter has recently published data about $37 mln stolen from Upbit that was moved by the hacker from one wallet to another.

The head of Binance, CZ, has promised that all funds stolen from Upbit that would end up on Binance would be immediately frozen.

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About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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