coinputin.com – FXcoin has announced plans to conduct a payment trial in which XRP will be used. In the trial, XRP will be used to settle claims and debts between companies that are part of Sumitomo Corporation.
FXcoin and Sumitomo to trial with XRP
According to the source shared by “Bank XRP,” a respected XRP community member, FXcoin and Sumitomo Corporation will take advantage of XRP to cover claims and debts between the companies.
Among them, Sumitomo Corporation Global Metals and Japanese financial giant SBI Group (ripple’s major partner in Japan) will also be involved in trial settlements.
The demo experiment with XRP aims to find a mechanism that can prevent the price fluctuation risks of digital coins during payments.
20 million XRP cashed
Monitoring service XRPL Monitor posted some tweets earlier today, showing that Jed McCaleb, the former Ripple CTO who founded the company, cashed in almost 20 million XRP. The funds were sent in two transactions, each carrying just over 9 million XRP from the” tacostand ” crypto wallet.
Two significant XRP transfers were also reported. Bybit transferred 50 million XRP to Binance. As for 92 million XRP, that amount was traded on the South Korean exchange Bithumb wallets.