Bitso Exchange Archives - Times Tabloid https://timestabloid.com/tag/bitso-exchange/ Cryptocurrency and Blockchain Tabs Thu, 05 Jun 2025 10:16:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png Bitso Exchange Archives - Times Tabloid https://timestabloid.com/tag/bitso-exchange/ 32 32 Ripple CTO Highlights How Bitso Facilitates Billions in XRP Remittances Without Operating in the US https://timestabloid.com/ripple-cto-highlights-how-bitso-facilitates-billions-in-xrp-remittances-without-operating-in-the-us/ Mon, 26 Jun 2023 03:29:51 +0000 https://timestabloid.com/?p=17035 Despite not having a physical presence in the United States, Ripple CTO David Schwartz has shed light on Bitso’s potential to handle billions of dollars in XRP remittances between Mexico and the United States. Schwartz emphasized in a recent discussion with the XRP community that Bitso acts as an intermediary by converting the received XRP […]

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Despite not having a physical presence in the United States, Ripple CTO David Schwartz has shed light on Bitso’s potential to handle billions of dollars in XRP remittances between Mexico and the United States.

Schwartz emphasized in a recent discussion with the XRP community that Bitso acts as an intermediary by converting the received XRP to Mexican Pesos (MXN) and facilitating domestic payments to recipients in Mexico.

Read Also: MoneyGram CEO Discusses Using XRP for Cross-Border Payments

Schwartz said that the user in the United States needs to send XRP to Bitso, which then does the appropriate conversions and sends MXN to the receiver.

In the course of the conversation, Schwartz noted that Bitso’s success in enabling cross-border transfers between the United States and Mexico, particularly with Ripple’s product, is due to its ability to convert XRP to MXN and handle last-mile delivery.

Schwartz went on to say that, even inside Ripple’s On-Demand Liquidity (ODL) structure, Bitso is solely responsible for currency conversion and delivery, with no participation in the originating currency.

When asked about opening a Bitso account in the United States to transmit XRP, Schwartz explained that Bitso accounts are not required for persons in the United States. Rather, recipients in Mexico can open Bitso accounts, and anyone with XRP can send payments to them from anywhere in the world. According to Schwartz, “XRP transfers value to Bitso in this transmission.”

Finally, Ripple CTO offered an excellent description of how the Mexican-based exchange, Bitso, permits billions of XRP remittances between Mexico and the United States despite having no physical presence in the United States.

Schwartz added that Bitso’s effectiveness in facilitating cross-border remittances between the countries stems from its capacity to convert XRP to Mexican Pesos (MXN) and handle final fund distribution. His statement gave light on the mechanics of Bitso’s operations, emphasizing that, even inside Ripple’s On-Demand Liquidity (ODL) architecture, Bitso is solely responsible for the conversion and delivery of the destination currency, with no participation in the source currency or country.

Read Also: John Deaton: Thousands of Investors Bought XRP With Zero Knowledge about Ripple

The Future of Cross-Border Payments

The capacity to process billions of dollars in XRP remittances without having a physical presence in the United States is a huge advancement in the cross-border payments industry. This technology has the potential to transform how money is exchanged across countries.

Traditional cross-border payments are sometimes delayed, costly, and opaque. This is because they rely on the slow and inefficient traditional banking system. The use of cryptocurrencies such as XRP can aid in the acceleration and reduction of the cost of cross-border payments.

The Ripple network is especially well-suited for international payments. The network is built to be quick, efficient, and secure. It can also handle a high volume of transactions. As a result, it is an excellent platform for conducting XRP remittances.

We may expect much more innovation in the cross-border payments area as the use of cryptocurrency grows. Using XRP and other cryptocurrencies could make cross-border payments faster, cheaper, and more efficient. This would be extremely beneficial to firms and individuals who rely on cross-border payments.

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]]> Nearly 500 Million XRP Moved between Exchanges and Wallets in 24 Hours. Here’s the Destination https://timestabloid.com/nearly-500-million-xrp-moved-between-exchanges-and-wallets-in-24-hours-heres-the-destination/ Thu, 03 Nov 2022 11:05:45 +0000 https://timestabloid.com/?p=11543 Interest in the Ripple-backed digital token, XRP, remains on the high side as whales continue to shift massive volumes of the digital token on a daily basis. Shortly after Ripple, the US-based cross-border payment firm received 800 million XRP in its wallet and locked 700 million at escrow, data showed that nearly 500 million XRP […]

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]]> Interest in the Ripple-backed digital token, XRP, remains on the high side as whales continue to shift massive volumes of the digital token on a daily basis.

Shortly after Ripple, the US-based cross-border payment firm received 800 million XRP in its wallet and locked 700 million at escrow, data showed that nearly 500 million XRP have been shifted among top exchanges and unknown wallets within 24 hours. 

Details of the Latest XRP Large Transfers

According to data collected by Timestabloid from the Whale Alert, the leading crypto tracking platform, about 493,042,004 XRP have been cumulatively moved in the last 24 hours between several unknown whale wallets and top cryptocurrency exchanges including Binance, Bitstamp, Bitso, and Sam Bankman-Fried’s FTX.

Out of these 493 million XRP token movements, 136,270,829 XRP were processed by Binance, the leading blockchain ecosystem and largest digital assets exchange by trading volume.

To note, 67,509,674 units of the XRP tokens were transferred from unknown whale accounts on FTX to Binance while 68,761,155 XRP were sent by users on Binance to separate wallets. 

Read Also: Coinbase Requests to File Amicus Brief in Support of Ripple and XRP Against the SEC

The Bitstamp crypto exchange was also involved in this round of hefty XRP transfers where it processed a total of 73,371,175 XRP in three separate transactions. In part of the transactions where XRP flowed into the Ripple ODL-partner exchange, 25 million XRP were sent to Bitstamp in two transfers from unknown wallets. 

Subsequently, Whale Alert reported that 23,371,175 XRP worth approximately $10.6 million at the time of execution were moved from Bitstamp to a certain whale wallet. 

The advanced tracking platform which reports large crypto movements in the industry also revealed that a whopping 60 million XRP flowed into Bitso exchange from a whale wallet while 83.4 million XRP worth about $37.8 million at the time of transfer, were sent out of Bitso. 

In another transaction, Whale Alert reported a wallet-to-wallet transfer where 140,000,000 XRP tokens were shifted. 

Read Also: Top Analyst Stresses How XRP Could Thrive On Bitcoin (BTC) Stability

While XRP whales continue to move massive amounts of the XRP Ledger native token, top crypto analysts and XRP proponents believe that a bullish season is in sight for the digital token. Notably, the XRP token is currently the 6th largest crypto with a market cap of $22.89 billion and is trading for $0.457 at the time of writing.

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]]> Whales Move Over 900 Million XRP Within the Last 48 Hours. Here’s Their Destination https://timestabloid.com/whales-move-over-900-million-xrp-within-the-last-48-hours-heres-their-destination/ Thu, 18 Aug 2022 15:13:55 +0000 https://timestabloid.com/?p=8912 XRP whales continue to transact huge volumes of Ripple’s native token despite the ongoing lawsuit with the U.S. SEC. More than 900 million XRP tokens have been transferred between top exchanges and unknown wallets by whales within the last 48 hours. Whale Alert, the most advanced blockchain tracker and analytics platform that reports large transactions […]

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]]> XRP whales continue to transact huge volumes of Ripple’s native token despite the ongoing lawsuit with the U.S. SEC. More than 900 million XRP tokens have been transferred between top exchanges and unknown wallets by whales within the last 48 hours.

Whale Alert, the most advanced blockchain tracker and analytics platform that reports large transactions in the crypto market, revealed a whopping 918,992,713 XRP token transfers initiated by several XRP whale wallets in 10 transactions.

These transactions were initiated by XRP whales via top crypto exchanges like Binance, Bitstamp, FTX, and Bitso. 

Related: About 400 Million XRP Moved in the Past 24 Hours: Here’s Where They Are Heading

Transactions By XRP Whales Surge

Among these huge token transfers observed by Whale Alert, the largest transaction was a 295  million XRP token transferred from an unknown wallet to Binance. This transfer was worth approximately $110.6 million when executed. 

Whale Alert tweeted, “295,500,011 XRP (110,601,869 USD) transferred from unknown wallet to Binance.”

The second largest transfer involved Ripple tokens amounting to 286,122,733 XRP and was moved between two unknown wallets.

Similarly, 279,622,820 XRP tokens were moved from an unknown wallet to another unknown wallet using Ripple’s network. This occurred in the last hour while the transaction was valued at 105,723,950 USD.

Another large volume transfer was observed on the Binance digital assets exchange. Here, 44,947,496 XRP tokens valued at $17,366,944 were transferred from Binance to an unknown wallet in a single transaction. 

Bitstamp was not left out in the massive movement of Ripple’s digital tokens. Approximately 55.6 million XRP (worth about $21.2 million) were transferred from Bitstamp to an unknown wallet. Another 45 million XRP was sent from an unknown wallet to the exchange. Whale Alert reported another 30 million XRP inflow to Bitstamp on August 17. 

Likewise, Bitso exchange recorded XRP whale activity on its platform. First, 30 million XRP tokens flowed into the exchange from an unknown wallet. Earlier today, 50 million XRP, valued at an estimated $19 million was transferred from a certain whale wallet to Bitso.

XRP whales equally employed Sam Bankman-Fried’s FTX exchange to transact over 120 million XRP between yesterday and today. In one transaction, 31,769,271 XRP ($12,192,403) was transferred from the exchange to an unidentified wallet. Also, 95 million XRP tokens were transferred from the exchange to an unknown wallet.

Read Also: Ex-SEC Attorney Shares Reason Why XRP Should Be Treated Like Bitcoin and Ethereum

Has this Affected XRP’s Price?

Despite these XRP whale actions, the token majorly distributed by Ripple has not been substantially affected in any direction. 

Notably, XRP is trading for $0.376 at the time of filing this report. As revealed by Coinmarketcap data, XRP has only appreciated about 1% in price in the last 24 hours. 

Meanwhile, Ripple’s native token XRP was relegated to the 7th position in terms of market capitalization by Cardano (ADA) on Saturday. Ripple’s XRP currently stands at around $18.5 billion in terms of market capitalization.

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]]> Shiba Inu (SHIB) Goes Live On Bitso, the Leading Crypto Exchange in Latin America https://timestabloid.com/shiba-inu-shib-goes-live-on-bitso-the-leading-crypto-exchange-in-latin-america/ Wed, 12 Jan 2022 08:11:47 +0000 https://timestabloid.com/?p=2157 Shiba Inu (SHIB), the hottest meme token built on the Ethereum blockchain, is now available for users to trade on Bitso, the largest cryptocurrency exchange in Mexico. Back in December 2021, the leading crypto exchange in Latin America hinted at the possibility of listing Shiba Inu (SHIB) on its trading platform. Read Also: Shiba Inu […]

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]]> Shiba Inu (SHIB), the hottest meme token built on the Ethereum blockchain, is now available for users to trade on Bitso, the largest cryptocurrency exchange in Mexico.

Back in December 2021, the leading crypto exchange in Latin America hinted at the possibility of listing Shiba Inu (SHIB) on its trading platform.

Read Also: Shiba Inu Launches Official Communication Portal, Adds 100,000 New Users within Weeks of Reaching 1 Million Milestone

The new development was announced a couple of hours ago via the official Twitter handle of Bitso exchange.

Bitso tweeted, “Welcome Shiba Inu ($ SHIB) @Bitso! Is the token with the name of the Japanese dog breed that was launched in August 2020 and competes for a place among the top 10 of the cryptos with the highest market cap…”

Overall, Bitso now supports trading for 16 cryptocurrencies, which include Compound (COMP), Axie Infinity (AXS), Chainlink (LINK), among others. Dogecoin (DOGE), the original meme cryptocurrency, is notably missing from the lineup.

Bitso became the first cryptocurrency unicorn in May 2021 after raising $250 million during its Series C funding round from such investors as venture capital firm Tiger Global and $48 billion hedge fund Coatue Management. It reached a valuation of $2.2 billion.

In November, the company collaborated with crypto giant Circle to enable cross-border payments between Mexico and the United States as part of its Bitso Shift initiative. Bitso has also been a longtime partner of Ripple, the US-based cross-border payment company.

Earlier this month, the Latin American crypto unicorn scored a 3-year partnership with Brazilian professional football (soccer) club Sao Paulo FC.

In early December, Mercado Bitcoin, the largest exchange in Brazil, added support for Shiba Inu (SHIB). Earlier this week, the cryptocurrency was also added by the Indian cryptocurrency exchange Giottus.

Read Also: SHIB Developer Shares Updates on Shibarium, the Shiba Inu Layer 2 Scaling Solution, Hints Big Surprise for Early 2022

On 10th January, Euler Finance, a noncustodial protocol on the Ethereum network, which allows users to lend and borrow crypto assets, announced the activation of Shiba Inu (SHIB) on its protocol. This implies that the crypto is now available for trading on a slew of global exchanges such as Binance, Coinbase, Gemini, and others.

Bitstamp, Europe’s premier cryptocurrency exchange, recently confirmed that it still intended to list SHIB in early 2022.

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]]> Almost Half a Billion XRP worth $336 Million Moved by Ripple, Whales and ODL Platforms https://timestabloid.com/almost-half-a-billion-xrp-worth-336-million-moved-by-ripple-whales-and-odl-platforms/ Wed, 22 Dec 2021 08:24:48 +0000 https://timestabloid.com/?p=1935 According to data released by Whale Alert, in the past 48 hours, almost half a billion XRP have been moved by Ripple, the San Francisco-based cross-border payment firm, and many of its On-Demand Liquidity (ODL) platforms, including an anonymous wallet. Based on current prices, the total amount of XRP shifted was worth around $336 million. […]

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]]> According to data released by Whale Alert, in the past 48 hours, almost half a billion XRP have been moved by Ripple, the San Francisco-based cross-border payment firm, and many of its On-Demand Liquidity (ODL) platforms, including an anonymous wallet.

Based on current prices, the total amount of XRP shifted was worth around $336 million.

Read Also: Crypto Whales Accumulated about 190 Million XRP in the Last Three Months

170 Million XRP Moved by Ripple and ODL platforms

According to the huge crypto transaction tracker, Whale Alert, around 170 million coins, was moved by Ripple and several leading crypto exchanges. These include South Korean Bithumb, as well as Coins.ph based in the Philippines and Mexico-based crypto exchange Bitso.

These three exchanges also operate as Ripple’s ODL platforms for sending low cost and fast payments, using the digital token XRP. Bitso received 20 million XRP from the US-based exchange Bittrex and shifted 17,700,000 coins from one of its wallets to another.

Read Also: Someone Abnormally Transferred 60 Million XRP between Wallets of Various Exchanges

Bithumb sent 72 million XRP between its own wallets. Ripple sent 40 million XRP to its RL18-VN wallet, often used by the payment firm to send XRP to external wallets owned by customers, financial institutions, and crypto exchanges, for selling XRP to cover operational expenses or for enhancing the digital currency’s liquidity.

A total of 20 million XRP tokens from the same wallet belonging to Ripple were transferred to the Coins.ph exchange.

Crypto Whale Transferred 230 Million XRP

The rest of the 400 million XRP was shifted by an owner of an unregistered wallet. The XRP whale shifted a whopping 229,610,300 XRP from his address 3GmhuPLe8PWL4WJbSr8Uaj72o9ed3YETU to rUtSrjgTrten98AYPgJSVTGVY9Qx7Esrxr in a single transaction.

Read Also: Brad Garlinghouse Says the SEC Aided Ethereum to Overtake XRP as Second-Largest Crypto

That is equal to $194,163,040 in fiat. An analytics data platform that deals with XRP, Bithomp, has not provided any data on the owners of these wallets.

On 20th December, it was reported that anonymous whales also moved a whopping 231,110,320 XRP between their wallets.

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