Millions of dollars worth of XRP held by major Canadian crypto exchange Coinsquare
Crypto analytics portal Nansen revealed data from cryptocurrency exchanges as part of a trend of publishing proof of stores. As it became known then, Coinsquare, a major Canadian cryptocurrency exchange, holds a 16.67% stake in XRP.
Second only to BTC and ETH, Coinsquare’s XRP reserves stand at 52.6 million tokens with an equivalent value of $20.8 million. Coinsquare’s total reserves stand at $124.77 million.
It was also an interesting revelation that XRP is the third largest asset in the reserves of Norway’s largest CeDeFi crypto broker, Phiri. According to the all the same Nansen data, 18.02% of the company’s $76.5 million in reserves is allocated to XRP. This portion is equivalent to 35 million tokens with a combined value of $13.8 million.
Pro-XRP regulators
Against the backdrop of litigation between the U.S. Securities and Exchange Commission and Ripple over XRP’s status, the commonality between the two centralized venues seems rather ironic.
Besides the fact that Coinsquare and FIRI have XRP as their third largest holding, both are licensed in their respective countries. This is reported on their websites, where FIRI is licensed by the Financial Supervisory Authority of Norway and Coinsquare is Canada’s first IIROC-regulated crypto marketplace.
