Stellar Globally Launches its Native Coin XLM to Seventy Countries
Announcing on the 25th of July, Stellar has revealed a new joint effort that will allow the company to introduce its native currency, the XLM, into seventy countries around the world. Through this new initiative, Stellar will be toe-to-toe with Ripple and provide more cost-efficient international payments.
Stellar will be joining TransferTo, an international money transfer provider. As of now, TransferTo operates in seventy different countries and on the day of the announcement, Stellar and its coin, XLM, are included.
TransferTo officially stated that the company is working hand in hand with Stellar to provide even more efficient means of international money transfer and every participating being, including financial institutions like banks, will see large gains for the collaborated companies and their network reach. Support for innovation and tech as well as back and forth transfers of money will be much faster and seamless for the seventy involved nations. Stellar will be supplying real-time protected and cheap transfers while TransferTo maintains international payments for new markets and brings together traditional and digital services and businesses.
Open to All
TransferTo enhances access to Stellar through its widespread reach and introduces an entirely new user base to the XLM. As an added bonus, more potential customers will find themselves involved in the cryptocurrency ecosystem.
Ripple, which is Stellar’s direct rival will be affected by the new collaboration. Although XLM and XRP are very different from XLM, both currencies aim at expanding their input as fast as possible and enhance payment methods globally. As Ripple dominated in this sector, XLM is quickly climbing to the next level.
CCO of TransferTo, Aik-Boon Tan, explained that the company’s main priority is to spearhead advancement in the payment business and the new collaboration with Stellar will undoubtedly provide the means to achieve that goal through blockchain tech and increase international payment provision and cost-efficiency. This will bring payment services to many cities, towns, and villages and provide access for every individual. Lisa Nestor of Stellar also expressed the same excitement towards TransferTo and the partnership, praising the company for its dedication and involvement in upcoming markets.