Categories: Altcoin News

Success Being Scripted for Stellar [XLM] as Coin makes some Fundamental Progress

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While Stellar Lumens have always been compared to XRP to measure success, one can not deny the newer coin, XLM has stood strong and has given returns to its investors much better than quite a few prominent coins. Having tested difficult waters and having consolidated its base, XLM lately has been delivering some crucial fundamental updates that could be important chapters in the success story of the coin.

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IBM joined forces with Stellar for IBM Blockchain world wire and stronghold stablecoin

IBM has long been known to be a solid partner of the Stellar organization as it has been using Stellar’s capabilities to a variety of blockchain projects that it is undertaking. IBM has joined hands with Stellar to adapt its protocol for IBM Blockchain World-Wire which IBM’s new blockchain based financial rail project that can simultaneously clear and settle cross-border payments in near real-time. Integrating with existing payment systems, this project can replace costly opacity with affordable transparency – and that can bring greater financial opportunity to all. Using blockchain technology and the Stellar protocol, IBM Blockchain World Wire would make it possible for financial institutions to clear and settle cross-border payments in seconds. The institutions can use their existing payment systems – seamlessly connected to World Wire’s APIs – to convert the first fiat currency into the digital asset.

Not just this Stellar had also received a major boost when it was announced that IBM would be launching its Stronghold USD on Stellars platform. In a conversation with Reuters, IBM’s vice president of the global blockchain, Jesse Lund said,

“IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.”

Also, read: Stellar [XLM] the Top Pick of this Month, Here’s Why it’ll Keep on Selling like Hotcakes

Stellar [XLM] achieves 1 million active accounts milestone, 25 million payments

A few days back, Stellar announced that it has achieved the 1 MILLION active accounts MILESTONE its lovers have long been expecting. It also achieved over 3,300 assets, 25 million payments, and 8 million trades along with it.

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The tweets continued saying “ That’s over 350,000 new (active) accounts just this month > 50% GROWTH from just July 2018!’ Imagine if a 3-year old bank has added 350,000 customers in just a month. A whopping 48.75 billion XLM ~US$11.5B (28/8/18) worth of Stellar assets have been traded ON-CHAIN just this month alone, up from just a little over 50 million XLM just a year ago on Aug 2017.T hat’s almost 1,000 times growth for decentralized exchange volume on the blockchain!

The Shariah compliance Certification places Stellar ahead of any other cryptocurrency in the Middle East and the Muslim world. This is a great opportunity for Stellar to increase its user base further in a monopolistic scenario in Islamic banking. Stellar also is associated in the carbon credit project where Veridium is partnering with IBM and Stellar to integrate their VERDE Token to simplify the tracking and auditing of carbon credits and the carbon market trading that follows.

Stellar, with so many positive updates, is not just completing key milestones in its future roadmap but also is getting its arsenal ready to take on it competitors such as XRP. If Stellar continues to progress the same way, it would definitely be a coin that would change the future of the financial industry.

Do Stellar Lumens have the potential to be a successful coin in the future? Do let us know your views on the same.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Nilesh Maurya

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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