- Garanti BBVA partners with Ripple and IBM to improve the performance and security of its expanding digital platform.
- Ripple has transferred 260 million XRP to an unknown wallet since October 22.
As Turkey’s cryptocurrency market expands, Garanti BBVA Kripto has announced a strategic partnership with Ripple and IBM to provide enhanced and secure crypto trading and custodial services to its customers. This partnership marks a significant milestone, as Garanti BBVA became the first major customer of Ripple’s newly launched Ripple Custody solution earlier this month.
Garanti BBVA’s collaboration with these tech giants aims to elevate the performance and security of its crypto platform. Following a successful pilot program last year, the bank is preparing to roll out its advanced services across its entire customer base. The goal is to offer clients a seamless and highly secure trading experience, backed by IBM’s infrastructure and Ripple blockchain technology.
Işıl Kılınç Gürtuna, General Manager of IBM Turkey, stressed the importance of strong security in handling cryptocurrencies. She emphasized that their joint efforts would ensure a high-performance platform for managing digital assets.
Ripple’s Major XRP Transactions Stir Speculation
Meanwhile, Ripple has been making headlines with a series of large XRP transactions. Today, the company moved 60 million XRP, valued at around $31.5 million, in two separate transfers of 30 million each. This follows a previous transfer of 200 million XRP, made yesterday. Together, these transactions bring the total amount transferred this week to 260 million XRP, valued at $136 million.
Speculation is rife about the purpose of these transactions, with some linking it to Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). However, the company has not provided any official explanation.
Amid these developments, XRP’s price has seen a slight dip. Today the price of XRP fell nearly 3% from a recent high of $0.5362 to a low of $0.523 as the global crypto market faces pressure. Additionally, the daily trading volume of XRP has dropped by over 17% to $989 million.
On the 4-hour chart, XRP is trading below the 20-day EMA, with the RSI at 44, indicating weakening momentum. At the time of writing, XRP was priced at $0.5256.
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