According to data released by the Whale Alert crypto monitoring platform, a huge transfer of XRP (230 million) has occurred in the past 15 hours.
In addition, one of Thailand’s largest banks working on RippleNet has set up a $ 50 million fund to invest in blockchain startups, DeFi platforms and crypto assets. Details are in our news.
Notable XRP Transfer
According to Whale Alert, anonymous whales recently transferred just under 230 million XRP in two major transactions. The market value of these XRPs is approximately 103,144,654 dollars. Bithomp, the analytics website that tracks XRP transactions, says both transactions were handled by Coinbase, the largest crypto asset exchange in the US.
Coinbase was sued by the US regulator SEC, which accused it of charging commission on XRP sales. As is known, it is currently claimed by the SEC that XRP is unregistered security. For this reason, Ripple has faced a lawsuit filed by the SEC on December 21, 2020. Coinbase customers are still allowed to use XRP wallets to transfer and store their coins, according to the recently released Q4 2020 XRP markets report.
Ripple-Friendly SCB and Azimo Sign Up New Projects
According to an article by Tech In Asia, Thailand’s largest commercial bank, SCB has launched a new $ 50 million fund to support crypto, DeFi and blockchain initiatives. The fund will invest in companies working in decentralized finance, blockchain and digital assets globally. Mukaya Panich, chief investment officer for the fund, believes there are strong parallels between the traditional finance domain and the blockchain-powered domain.
Azimo, the major digital payment service provider, another RippleNet customer, has partnered with HBL, Pakistan’s largest commercial bank, and announced the launch of a new digital money transfer solution. The new product will enable Pakistani citizens living and working abroad to send cash from Europe, the UK and elsewhere to Pakistan smoothly and cheaply. Through Azimo, users can send money to any bank account in a Pakistani bank or transfer it to any branch of HBL for collection. The bank (HBL) has over 30 million customers and its mobile app has a user base of over 1.8 million.