According to the information published by crypto monitoring platform Whale Alert, huge XRP has been transferred in the last 17 hours. Meanwhile, one of Thailand’s largest banks operating on RippleNet has set up a $50 million fund to invest in blockchain startups, DeFi platforms and crypto assets.
Whales transferred almost 230 million XRP
According to Whale Alert, anonymous whales transferred just under 230 million XRP in the recent big process. This value is equivalent to $103,144,654. Assay website Bithomp, which tracks XRP processes, says both processes are handled by Coinbase, the largest crypto-asset exchange in the US.
Coinbase has been sued by the US regulator SEC, accusing it of charging a committee price from XRP sales on the platform. Also, as we have previously reported as Kriptokoin.com , the SEC claims that Ripple is selling XRP as unregistered security. Ripple has been facing the charges in question since December 21, 2020.
According to the fourth quarter report released by Ripple recently, Coinbase customers are still allowed to use XRP wallets to transfer and store their coins. Only XRP trading is suspended.
Ripple-friendly SCB and new projects from Azimo
SCB, Thailand’s largest commercial bank, according to Tech In Asia article; 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.
The fund’s chief investment officer, Mukaya Panich, believes there are strong parallels between the classical finance space and the blockchain-based space.
Ripple customer Azimo and Pakistan’s largest bank to offer remittance service
Large digital payment service Azimo, another RippleNet customer, is Pakistan’s largest commercial bank Partnered with HBL and announced the launch of a digital money transfer solution.
The new work will enable Pakistani citizens living and working abroad to send cash from Europe, the UK and elsewhere to Pakistan without any hassle and cheaply. Through Azimo, users can send money to any bank account in a Pakistani bank or transfer it to a random branch of HBL for collection.
HBL has more than 30 million customers.