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According to on-chain data, Ripple transferred 60 million XRP to anonymous wallets in various transactions. This development comes amid the announcement of a strategic partnership between Garanti BBVA and Ripple aimed at enhancing the performance and security of Garanti BBVA’s growing digital platform.
According to blockchain data tracker Whale Alert, the transfer of 60 million XRP, worth approximately $30.1 million, was carried out in two separate transactions. The first transaction “transferred 30,000,000 XRP valued at $15,908,943 from Ripple to an unknown wallet,” and the second transaction “transferred 30,000,000 XRP valued at $15,908,943 from Ripple to an unknown wallet.”
The timing of these moves is particularly interesting given that Galanti BBVA’s partnership announcement with Ripple has sparked speculation about the intentions of the move. These XRP transfers may be related to providing liquidity, reshuffling wallets, operating capital to expand Ripple’s technology solutions, or even sales.
Ripple enters new partnership with major Turkish banking subsidiary
Galanti BBVA Crypto, a subsidiary of Galanti BBVA, one of the largest banks in Turkey, has entered into a strategic partnership with Ripple.
related
Garanti BBVA Kripto is expanding into digital assets by establishing a strategic partnership with Ripple through its subsidiary and services provided by IBM for the safe custody of a crypto asset trading platform serving over 14,000 users. We aim to provide high performance, security and customer trust standards.
Following a successful pilot in 2023, the bank is now rolling out the service to all customers. Ripple Custody and IBM’s integrated solution enabled the bank to build, implement, and maintain an institutional-grade key management infrastructure with end-to-end security to protect private keys, apps, and data.
