Ripple Partner SBI Wires 200 Million XRP from Its Recently Launched Lending Service

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Mon, 12/14/2020 - 09:28
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Yuri Molchan
Major Ripple partner in Japan, SBI, has transferred 200 million XRP from the addresses of its newly created crypto lending service
Ripple Partner SBI Wires 200 Million XRP from Its Recently Launched Lending Service
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Whale Alert tracking service has spotted a mammoth-sized amount of XRP wired by SBI VC Trade.

It is a digital exchange owned by a major Ripple partner in Japan, financial holding SBI, and recently the company launched a crypto lending service on it that works with Bitcoin, Ethereum and XRP.

Besides, 118 million XRP was transferred by crypto exchanges, with Coinbase among them.

XRP
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SBI VC Trade wires $103.4 million worth of XRP

Whale Alert has reported that, in the past four hours, 200 million XRP tokens have been wired. Blockchain data says that the transactions were conducted by one of the major Ripple partnersJapanese-based financial giant SBI.

The funds were transferred from the company’s crypto exchange SBI VC Trade. As reported by U.Today recently, SBI had launched a crypto lending service that allows users to borrow funds in Bitcoin, XRP and Ethereum.

The crypto was sent to BitGo, a crypto exchange that also runs custodial wallets for financial institutions and for Ripple in particular.

In October, it was reported that, after the U.S. payments monster PayPal enabled crypto purchases, the company wanted to acquire BitGo as part of its expansion in the crypto industry.

On Saturday, Dec. 12, BitGo transferred a whopping 246.8 million XRP to SBI VC Trade.

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Ripple CTO Rickrolls XRP Army as Token Nose-Dives 12 Percent

Coinbase, Huobi shift 118 million XRP

Whale Alert also reported that the largest U.S. exchange and biggest trading platform in China have cumulatively transferred 118 million XRP tokens.

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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.