Ripple helped move over 80 million XRP, part of which went to the Philippines
Major blockchain platform Whale Alert, which tracks large cryptocurrency transactions, has detected that over 13 hours ago, two large XRP transfers were performed.
One of the companies that sent these funds was San Francisco-headquartered fintech giant Ripple, which operates the XRP Ledger and markets itself as the distributor of XRP to other companies and markets.
82 million XRP transferred by Ripple and Korea’s top exchange
According to Whale Alert and some of its recent tweets, two lumps of XRP, carrying 20 million and 62 million coins, have been transferred over the past 14 hours.
Sixty-two million XRP have been moved between Bithumb’s internal wallets, according to additional data provided by Whale Alert. As for Ripple, it transferred 20 million coins to its on-demand liquidity exchange in the Philippines – Coins.ph, using one of its additional wallets, RL18-VN.
As reported by U.Today earlier, Ripple’s other two ODL platforms—Bitso and Bitstamp—had received 20 million XRP each from major crypto exchange Bittrex, located in the U.S.
On-demand liquidity powered by XRP
ODL corridors are used by Ripple and its customers to make transparent cross-border payments in a fast and cheap way, without having to make prepayments to the destination account. ODL uses the Ripple-affiliated XRP coin, which is then exchanged for a local fiat currency and then reaches the receiver.
