Upbit, South Korea’s largest crypto exchange, has been in the news lately as 20 million XRP worth $11.4 million were withdrawn from the exchange in just one hour.

According to Whale Alert, the funds were transferred to an unknown wallet and then further redirected to other addresses. While 4 million XRP was sent back to Upbit, the whereabouts of the rest of the funds are unknown.

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This move comes at a time when the price and trading volume of XRP on Upbit are soaring. XRP’s price has risen by 27.4% in just the past three days, breaking through the 768 KRW per token mark today.

XRP has maintained its position as the most traded cryptocurrency on Upbit and Bithumb, the two largest crypto exchanges in Korea. It accounts for 35% of the total trading volume of $1.93 billion on Upbit and 42% of the total trading volume of $400 million on Bithumb.

XRP/KRW 30 minutes – chart on Upbit exchange

XRP’s total turnover on Upbit is already at $674.77 million, nearly four times that of Bitcoin (BTC). The surge in XRP’s price and trading volume has been attributed to several factors, including Ripple’s recent announcement of a new partnership with a major Japanese bank, as well as rumors of an upcoming relisting of XRP on several major exchanges.

In the meantime, Upbit has assured its customers that their funds are safe and secure, despite the recent withdrawal of a large amount of XRP. The exchange has also stated that it will continue to monitor the situation closely and take all necessary steps to ensure the safety of its customers’ assets.

This news is yet another indication of the growing interest in cryptocurrencies, particularly in South Korea, where crypto trading has become increasingly popular in recent years. It remains to be seen how XRP’s price and trading volume will develop in the coming days and weeks, but for now, it seems that the cryptocurrency is on a strong upward trend.

#Ripple #XRP #Upbit #Bithumb #azcoinnews

This article was republished from azcoinnews.com

Tilia LLC, the payments platform for digital economies, announced on March 14th that it has secured $22M in additional funding to further expand its platform and meet the growing need for dynamic payments in online games, creator platforms, social commerce, and other digital social worlds. This latest funding round was led by Seoul-based fintech leader Dunamu, the parent company of crypto exchange Upbit, which joined J.P. Morgan Payments as an investor.

Tilia’s payments engine is designed to meet the unique needs of any digital economy and unlock new forms of monetization for creators and social-driven platforms. The platform powers user-generated content transactions and microtransactions, allowing direct payouts to creators and their collaborators. Tilia also mints branded tokens that are U.S. compliant and have a fixed conversion rate to fiat currency, enabling users and creators to buy and sell digital goods and services.

In addition to the funding announcement, Tilia also revealed two new appointments to its executive team. Brad Oberwager, who has served as Executive Chair at Tilia for the past two years, has been appointed CEO. Oberwager is a seasoned entrepreneur with a successful track record in founding and leading multiple technology and consumer-focused companies, including More.com, Blue Tiger Network, and Bare Snacks. As CEO, Oberwager will leverage his deep knowledge of Tilia’s business alongside his decades of company-building experience to guide the company through its next phase of growth.

Catherine Porter has been appointed as Tilia’s first Chief Business Officer. Porter brings more than two decades of experience leading strategy, sales, marketing, and business development for consumer and enterprise technology companies, including OpenTable, LinkedIn, Google, and Oracle. In her new role, Porter will be responsible for leading business and corporate development, licensing efforts, strategic planning, and team growth.

“Today’s payments infrastructure was built for traditional commerce – it hasn’t caught up with the new way of living and working in a digital, creator-driven economy,” said Brad Oberwager. “At Tilia, we have a massive opportunity to unlock new revenue streams for both online creators and the platforms they build in, whether they are gaming worlds, social platforms, or next-generation marketplaces. As I take the helm at Tilia, my focus will be on providing a payments system that enables these expanding digital economies.”

Catherine Porter also commented on Tilia’s unique value proposition. “I joined Tilia because it has the track record, the technology, and the regulatory expertise necessary to create a trusted and safe financial system for every online economy, and we have only scratched the surface of what’s possible.”

The growing demand for Tilia’s payments engine underscores the need for trusted and dynamic payments in the digital economy. With this latest funding round, Tilia is well-positioned to meet this demand and continue its expansion.

This article was republished from azcoinnews.com

#Upbit #Danuma #Tilia #investment