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110 Million XRP Transferred by Ripple and Top Asian Crypto Platforms

source-logo  u.today 23 July 2021 09:27, UTC

As reported by blockchain tracker Whale Alert, over the past sixteen hours, Ripple distributed ledger tech provider and two largest crypto exchanges have shifted an astounding 110 million XRP coins.

Half of that amount was moved by the Ripple DLT giant.

110 mln XRP transferred by Ripple, Binance and Houbi

According to the tweets posted by Whale Alert crypto tracking firm, Ripple, the largest exchange in China, Houbi, and Binance have made two transactions to move 110 million XRP.

That is an equivalent of $65,105,100 in fiat.

Houbi has shifted 50 million XRP to Binance. In an earlier transaction, Ripple moved 60 million to its RL18-VN wallet. This address is usually used for sending XRP outside Ripple – to crypto exchanges, financial institutions and banks that work in a partnership with Ripple or to custody wallets as well.

Ripple continues sending XRP to Huobi

As reported by U.Today previously, the San-Francisco-based blockchain decacorn keeps sending XRP to Huobi. The last XRP amount allocated for that was 150 million XRP on May 28.

Since then, Ripple has been sending daily tranches to Huobi, changing that amount each week – 6.6 million XRP, 5.3 million XRP, 3.3 million XRP, etc.

Since July 18, Ripple’s RL18-VN wallet has been transferring 1,781,675 XRP to Huobi on a daily basis.

Visa and Mastercard make a foray into crypto via RippleNet clients

On Thursday, U.Today covered that the global payments behemoth Visa has announced its determination to acquire RippleNet client Currencycloud – a platform that provides cutting edge solutions to help banks and fintecs improve cross-border payments.

Currencycloud runs on RippleNet and operates in over 180 countries with more than 500 customers.

This year, both Visa and Mastercard have been making forays into the crypto sphere. Visa had announced it wanted to build their own ecosystem to use cryptocurrencies. Besides, recently U.Today reported that the payments card giant partnered with Ripple client Nium and Hong Kong payments app Fuiou Pay.

Mastercard has enhanced its card program for crypto wallets and digital exchanges. By partnering with Circle, Paxos, BitPay, Uphold and other companies from the crypto industry, Mastercard intends to introduce direct crypto-to-fiat exchange using the second largest USD-pegged stablecoin USDC.

Also, Ripple has recently hired a former high profile executive from Mastercard to lead its expansion in Europe. Sendi Young was invited to join Ripple as Managing Director of European Operations.

u.today