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Ripple ODL Platform and Its PayID Partners Wire Almost 100 Mln XRP

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Sat, 10/31/2020 - 08:47
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Yuri Molchan
Fresh data says that Ripple’s ODL partner in Europe has transferred 22.7 mln XRP, while Houbi, Bittrex and custodial service BitGo have wired more than 70 mln XRP
Ripple ODL Platform and Its PayID Partners Wire Almost 100 Mln XRP
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According to the data published by XRPL Monitor, several major players – Ripple’s ODL corridor Bitstamp, Huobi, Bittrex and BitGo platforms have transacted almost 100 mln XRP between each other.

Some of those platforms are part of the Ripple's PayID project.

Almost 100 mln XRP shifted by major crypto players

XRPL Monitor tracking bot has tweeted that over the past twenty hours a gargantuan amount of XRP – around 100 mln – has been transferred by several major exchanges – Bitstamp, Houbi, Bittrex, Binance and Bitfinex.

Ripple’s ODL platform in Luxembourg – Bitstamp – has moved 22.7 mln XRP between its internal digital wallets.

ODL is short for On-Demand Liquidity, a Ripple’s product that allows sending funds via RippleNet using XRP without having to prefund the recipient’s account.

Ripple uses several ODL corridors – in Luxembourg, Australia, Mexico, the Philippines, Japan, South Korea, etc. They are set up as part of the partnership with MoneyGram International, that works in the remittance industry.

The XRP tracking monitor also spotted that a substantial amount of XRP – 35 mln – was wired by the Huobi exchange internally and a similar amount was received by it from Bittrex.

BitGo, Binance and Bitfinex have also taken part in wiring the 100 mln.

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Ripple’s PayID partners

Houbi is one of crypto companies that are working together with Ripple on the PayID project, which intends to make conducting crypto payments as seamless as sending an email.

Apart from Huobi, other crypto companies joined Ripple to support PayID – Brave Browser, BitGo, Blockchain.com, etc.

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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.