Over 350 million XRP coins have been moved by major crypto exchanges, while XRP shows an increase of over 31% in the past week
Several tweets published by Whale Alert crypto tracker in the past twenty-four hours show that several large crypto exchanges located in various parts of the world transferred a staggering amount close to 352 million XRP. The list of senders includes Ripple-invested Bitso crypto exchange which is also one of the ODL corridors of the former.
Interest in XRP from exchanges appears to be driven by XRP’s recent leadership among altcoins over the past week, as the eighth-largest Ripple-affiliated cryptocurrency has gained over 32% over the period, according to CoinMarketCap.
In the meantime, a blockchain-based fintech and a RippleNet member Pyypl has managed to raise $11 million to expand remittances in Africa and the UAE.
352 million XRP shoveled between exchanges
The popular crypto tracking service detected six large XRP transfers, carrying a total of 351.9 million coins.
Three of these transactions carries lumps of a whopping 100 million XRP each.
100 million XRP was moved to the Binance exchange from a smaller platform, then Binance moved the same amount of crypto between its internal wallets. The third largest XRP transfer on this list was made by South Korea’s main exchange – Bithumb, it was also done internally. An additional transaction of 15 million XRP was also spotted as it was made between the company’s internal wallets.
As for the Ripple’s ODL corridor in Mexico – Bitso crypto unicorn – it wired 16,900,000 XRP between its own wallets and received 20 million coins from the US-based Bittrex crypto trading venue.
The aggregate value of the sum transferred in XRP constitutes a whopping $288,061,973 in fiat.
RippleNet member raises $11 million to expand its remittance offer for the unbanked
According to The National, RippleNet member fintech giant Pyypl headquartered in the UAE has recently raked in $11 million from international investors in a Series A funding round. It was mainly international family officers and high-net-worth individuals that participated in the investment round.
Pyypl operates on the blockchain and offers digital payment services to smartphone users, allowing them to transfer money online without using their bank account or bank card.
The funds raised by the company will allow it to expand in the GCC markets (those include Oman, Qatar, Kuwait, the UAE, etc) and in Mozambique and Kenya.
Ripple started collaborating with Pyypl at the end of October last year to bring ODL services to the Middle East and Africa.
