XRP price saw a major spike on Aug. 26, hinting at a possible effect from some big traders. Large XRP transfers, Ripple Swell Global event Notably, XRP's price jumped 6% to $0.37, a two-week high, during the early London hours. The token's upside move occurred hours after its network processed three massive transfers worth $51 million involving crypto exchanges Bitso and FTX, as highlighted by Whale Alert. XRP's gains also came as a part of a broader upside move that started on Aug. 25, a day after Ripple announced its flagship event, "Ripple Swell Global," to be held in London …

Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions. Winklevoss’ crypto business Gemini Trust reportedly cut 10% of its employees amid the ongoing bear crypto market, the founders wrote in a notice to employees on June 2, as Bloomberg reported. As part of its first major headcount cut, Gemini will refocus on products that are “critical” to the firm’s mission, the brothers said, adding that “turbulent market conditions” are “likely to persist for some time.” The notice reportedly …

El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet. The Chivo wallet was launched in conjunction with BTC becoming legal tender in El Salvador on Sept. 7, 2021. The official platform allows users to buy and sell Bitcoin, offering cryptocurrency custody and exchange services provided by the Mexican crypto trading platform Bitso. Bitso essentially provides back-end technology so that the government of El Salvador can purchase Bitcoin and ensure that BTC is convertible to the United States dollar, Bitso’s chief corporate and regulatory affairs …

Bitso, a major Latin American cryptocurrency exchange and El Salvador’s crypto wallet assistant firm, has announced its formal launch in Colombia. As part of Bitso’s development strategy in Colombia, the exchange has hired former Mastercard executive Emilio Pardo as new country manager, the firm announced to Cointelegraph on Thursday. Pardo is former head of business development for the Andean Region at Mastercard, where he focused on fintech issues like instant and cross-border financial transactions and open banking. He will now be responsible for developing Bitso’s strategy in Colombia to increase the local crypto adoption and financial inclusion, focusing on Bitso’s …

Crypto-focused enterprise payment platform Tribal Credit has raised $60 million in an oversubscribed investment round, putting the company on track to continue its expansion in Latin America — a region that has seen significant uptake of blockchain-based cross-border payments. The Series B investment round was led by SoftBank Latin America Fund, a venture fund that has invested in several fintech and software companies throughout the region. Coinbase Ventures also participated in the round alongside venture firms BECO Capital, QED Investors and Rising Tide. Tribal said it will use the cash injection to fund its operations across the region, including building …

Crypto-focused enterprise payment platform Tribal Credit has concluded a $40 million debt offering that was funded through fiat and stablecoins — giving the company additional capital to expand its business services in Latin America. The so-called hybrid debt round was financed by Partners for Growth, a California-based investment firm, and Stellar Development Foundation (SDF), which is a non-profit organization supporting the growth of the Stellar blockchain. Tribal said it will use the capital to fund receivables from its customer base throughout Latin America, particularly Mexico, Brazil, Chile, Colombia and Peru. Tribal COO Duane Good explained to Cointelegraph that funding receivables …

Enterprise payment platform Tribal Credit has partnered with Latin American crypto exchange Bitso and the Stellar Development Foundation to create a new cross-border payment service for businesses, opening the door to broader use cases for blockchain technology in the region. The new service, which is geared towards small- and medium-sized enterprises, enables companies in Mexico to pay for goods and services in their native peso currency and have their counterparts in the United States receive the payments in dollars. The service will rely on the Stellar blockchain, a decentralized open-source payment network specializing in cross-currency transactions. Tribal Credit’s cross-border payment …

Bitso, a major Latin American cryptocurrency exchange, is collaborating with the USD Coin (USDC) stablecoin operator Circle to launch a new cross-border payment tool between Mexico and the United States. The company announced on Thursday that the integration with payment solutions from Circle aims to provide Mexican people with a new option to send and receive payments to or from the U.S. Called Bitso Shift, the new tool uses cryptocurrency to enable low-cost and instant cross-border payments available 24/7, allowing users to instantly exchange between Mexican pesos and the United States dollar (USD)-backed stablecoins. The new offering intends to unlock …

Bitso, a major cryptocurrency exchange in Latin America, will be the core crypto service provider for El Salvador’s official Bitcoin (BTC) wallet, known as Chivo. In conjunction with Bitcoin becoming legal tender in El Salvador, Bitso announced on Tuesday that the firm would assist El Salvador in launching the state-supported BTC wallet alongside companies like Silvergate Bank, digital currency company Athena Bitcoin and blockchain firm Algorand. Silvergate Bank, a California state-chartered commercial bank and a United States Federal Reserve member, will work with Bitso to facilitate U.S. dollar transactions for the Chivo wallet. Athena Bitcoin will provide some front-end services …

Bitso, the biggest crypto exchange in Latin America, has raised $62 million dollars in a series B funding round. Bitso plans to use the funding to consolidate its expansion in the region — including a focus on Brazil's emerging market. The fundraising round for the Mexican exchange was led by the investment funds Kaszek Ventures and QED Investors. QED's co-founder Nigel Morris and Kaszek's managing director Nicolas Szekasy will also join Bitso's board of directors following the round. Morris stated: "QED has long kept the crypto market and Bitso in its crosshairs. It has been a pleasure to see the …

Bitso, one of the biggest cryptocurrency exchanges in Latin America, has hit 1 million users prior to its upcoming launch in Brazil. Santiago Alvarado, director of cross-border payments at Bitso, discussed the latest developments in leveraging crypto for cross-border payments in Latin America during a Unitize panel on July 8. The discussion was joined by Ripple’s director of product Craig DeWitt and Prysm Group’s Reed Cataldo. Bitso tops Argentinian market after launching in February During the panel, Alvarado revealed that Bitso reached a major milestone by hitting a one million user market last week. After topping Mexican and Argentinian crypto …

The hacker claiming to be selling user databases from top hardware wallet manufacturers Ledger, Trezor, and KeepKey appears to actually be peddling bunk, according to SatoshiLabs. On May 24, cybercrime monitoring blog Under the Breach reported that a hacker had begun advertising the customer databases of popular hardware wallet companies for sale. The data purportedly included the full names and physical addresses for over 80,000 user accounts. Under the Breach tweeted screenshots suggesting that the hacker obtained the databases by exploiting a vulnerability of popular e-commerce platform Shopify. “Don’t offer me low dolar, only big money allowed,” the hacker warns …