60 million XRP transferred by Ripple decacorn and Binance

As part of the new ODL corridor, Binance Exchange & Ripple decacorn collectively did a transaction of XRP token. The whole transaction amount of XRP token is around 60 million.

According to the data provided by the Whalealert bot on twitter, Ripple crypto behemoth & Binance exchange together transferred around $10 billion worth of Ripple token. The transaction was made on the XRP ledger with two transactions.  

Binance Exchange transferred a total 50 million of XRP tokens to the Chinese Huobi exchange. The worth of 50 million XRP tokens is around $61,613,496 according to the current price of the XRP token at the time of writing this article. 

The rest of the 10 million XRP token transferred by the Ripple on the Coins.ph wallet. So the whole transaction was made via the Ripple wallet RL43-EE.

Coins.ph is a crypto trading platform which basically originated from the Philippines. 

As recently, Ripple firms announced their plans to set up an on demand Liquidity corridor to facilitate remittances from Japan to the Philippines. And this On demand Liquidity corridor is named as xRapid. Through this program they will use XRP tokens to allow the transactions. Here it should be noticed here that Coins.ph is working in the Philippines end to help the xRapid program to facilitate the transactions with the conversion of XRP token for Philippines users.

Related: Ripple new partnership allow XRP for Japan-Philippines remittances

So the whole transaction made by Ripple & Binance is a part of xRapid remittance service.

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