Stellar Shakes the Crypto Industry with Key Progress
The organization is now positioning its XLM coin to take on competitors such as XRP.
Stellar Partnerships with IBM
The recent remarkable progress of Stellar XLM is now catching the attention of many crypto lovers. Since its inception, XLM has been rated alongside XRP in terms of success. The coin has been rewarding investors handsomely compared to prominent cryptocurrencies in the market. In the recent past, XLM has managed to establish itself in the market with major key partnerships.
A notable partnership is with IBM. For a long time, the Stellar organization has been collaborating with IBM on the blockchain. IBM is believed to be undertaking some blockchain projects and stellar is offering the foundation.
At the moment, the two firms are working on the Blockchain World Wire where IBM will use blockchain to roll out a cross-border payment system instantly. The platform has been tainted to replace the expensive opacity. Additionally, there will transparency under this project.
Financial institutions can deploy there existing payment systems to convert fiat into assets. Additionally, Stellar made a statement in the industry when it emerged that IBM had planned to roll out a Stronghold USD on the stellar network.
According to Jesse Lund from IBM’s blockchain sector, the giant tech firm will look at other means whereby existing business networks can be utilized by users as tokens.
Stellar Registers 50% Growth in a Month
Recently, Stellar announced that its platform has managed to attract about 1 million users who are active. Many were patiently waiting for the milestone to be achieved since signs were written all over. During the period, Stellar reached a staggering 3, 300 assets accompanied by 25 million payments.
In a tweet, Stellar revealed that more than 350, 000 users signed up within August representing a 50% growth. The growth can also be viewed as 1000 times for any decentralized exchange on the blockchain.
As many crypto firms strive to get permits to operate in the Middle East, Stellar has moved ahead of the park. The firm has a Sharia Compliance Certificate to operate in the Muslim world. The certification has been elusive for some crypto firms. With the authority to operate in the Middle East, Stellar is expected to grow its user base.
The firm is also working with the carbon credit project where Veridium is collaborating with IBM and Stellar. The partnership will see the VERDE token integrated as a way of promoting efficiency in the carbon market trading.
With such development, Stellar is getting ready to fight for space with competitors such as XRP. If the positive progress continues, Stellar might be the industry game changer in the near future.