Connect with us
Paramount
Advertisement
Ican
Advertisement
IZIKJON
Advertisement
Stanbic IBTC
Advertisement
Polaris bank
Advertisement
Binance
Advertisement
Esetech
Advertisement
Patricia
Advertisement
Fidelity ads
Advertisement
app

Cryptocurrency

Ripple’s chairman transfers 500,000,000 XRP

Chris Larsen, Ripple’s co-founder and Chairman transferred 499,999,979XRP. 

Published

on

Ripple’s chairman transfers 500,000,000 XRP

The fourth most valuable crypto in the crypto-verse is on limelight again. Data from Whale Alert revealed that Chris Larsen, Ripple’s co-founder and Chairman transferred 499,999,979XRP  worth (115,847,491 USD) to unknown wallet.

The Ripple’s co-founder, via his Twitter feed, commented on the move, and further revealed the unknown wallet, he transferred the huge stacks of Ripple.

READ: U.S Banks now permitted to hold Tether, Circle

“As some of you may have noticed, I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top-notch institutional standards — this is truly custody 2.0.,” Larsen tweeted.

What we know: NYDIG provides digital asset services to investors around the world. NYDIG’s custody platform, built fully in-house, is designed to satisfy the highest regulatory, audit, and governance standards, and NYDIG’s team is comprised of professionals with deep experience in capital markets, technology, and digital assets.

READ: Despite COVID-19, top Nigerian Banks declare N36.7 billion dividends

Quick fact: Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.

Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered and Barclays for international transactions worldwide.

Explore the Nairametrics Research Website for Economic and Financial Data

Global banks having a relationship with Ripple

Japan-based Mitsubishi UFJ Financial Group, with assets of more than USD 2.8 trillion, announced in November 2018 that, in cooperation with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil.

bitcoin train

Banks using Ripple include Europe’s banking giant, HSBC Holdings Plc, with assets of about $2.5 trillion, which disclosed in 2019 that it would use the XRP payment solution.

Binance

READ: Whales are buying XRP, Ripple becomes world’s 3rd most valuable crypto

Japan Post Bank with assets of USD 1.9 trillion, Sumitomo Mitsui Financial Group, and Mizuho Financial Group with trillions of dollars in assets, also have a close relationship with Ripple Asia. Others having a relationship with Ripple include Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto-Dominion Bank.

Jaiz bank ads

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement




Advertisement

Nairametrics | Company Earnings