A massive transfer of XRP (230 million) has occurred in the past 15 hours, according to data released by the Whale Alert monitoring service. Whale Alert reported that the anonymous whales were transporting just under 230 million XRP in two large transactions. This figure corresponds to 103,144,654 dollars.
Bithomp, the analytics website that tracks XRP transactions, says both transactions are handled by Coinbase, the largest cryptocurrency exchange in the US.
Coinbase has recently been sued by the US regulatory agency SEC, which accused it of charging commission fees from XRP sales. As it is known, Ripple was sued in December by the US Securities and Exchange Commission, which defined XRP as a security.
According to the recently released fourth quarter 2020 report, Coinbase customers can use their wallets to transfer and store their XRP. Only XRP trades are suspended.
Ripple-Friendly SCB and Azimo Launch New Projects
Ripple-friendly SCB and Azimo, on the other hand, are launching new projects on blockchain and remittance. According to an article by Tech In Asia, Thailand’s largest commercial bank, SCB has launched a new $ 50 million fund to support cryptocurrency, DeFi, and blockchain startups.
The fund will invest in companies working in decentralized finance (DeFi), blockchain, and digital assets globally. Mukaya (Tai) Panich, chief investment officer of the fund, believes there are strong parallels between the traditional financial domain and the blockchain-backed domain.
Pakistan’s Largest Bank HBL Partners With Ripple Client Azimo
According to a press release shared with U.Today, the leading digital payment service Azimo, another RippleNet client, has partnered with HBL, Pakistan’s largest commercial bank, to announce the launch of a new digital money transfer solution.
The new service will enable Pakistani nationals 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 more than 30 million customers, while its mobile app has a user base of over 1.8 million.