If you think that Stellar (XLM) is just out to add to over 1,700 cryptos in the virtual currency market, then you have another thing coming. Just as many cryptocurrency investors hope to see to their currencies maintain a bull run. XLM though, could be ready to become a force to reckon with. Are you an XLM investor? Believe it, the news coming from XLM lately will have you chuckling sheepishly. Wondering what news that is? Let’s break it down for you.
Coinbase Will Start Listing XLM
Yes, the biggest cryptocurrency exchange in the world by trade volume, Coinbase, announced recently that it is considering adding five potential cryptocurrencies. And the good thing is, your XLM made the list! Given that Coinbase is skeptical about adding digital currencies with lots of regulatory bottlenecks, this is good news for Stellar. When Coinbase adds XLM to its catalog, Stellar will definitely give its close rivals a run for their money.
Stellar Is Sharia-compliant
If you are a Muslim, who is skeptical about acquiring cryptocurrency, this will certainly interest you. Indeed, Stellar aligns perfectly with your religious convictions. Stellar has a Sharia-compliant certificate. The implication of this is that Stellar has a new vista of opportunities in Islam-dominated countries, targeting estimated 1.6 billion Muslims. With this compliance, nations like Saudi Arabia, Qatar, Kuwait, and others may now weigh the option of adopting the currency in their existing financial system.
Stellar Has Partnered With Tempo
There is no denying the fact that that Stellar’s biggest rival is Ripple. Though, Stellar has just collaborated with payment provider Tempo, taking the platform (Stellar) to a whole new level. With this partnership, Tempo will be using the Stellar DEX platform. When the technicalities have been perfected, Tempo will be leveraging the robust Stellar platform to revolutionize the global cryptocurrency payment system using XLM, Stellar’s native currency, to simplify the crypto/fiat trading markets. While Ripple is focusing on encouraging banks to adopt its currency (XRP), banks are nonetheless only using its ledger.
IBM’s Stablecoin Launches On Stellar Platform
We know it’s no news anymore that tech giant IBM has launched its digital asset Stablecoin on Stellar DEX platform, but it is worthy of mention here. Backed by IBM, Stablecoin is pegged to the US dollar, and it is developed by financial services firm Stronghold. This is a plus!
Conclusion
In conclusion, there you have them: the efforts invested into the Stellar project are a testament to the fact that the Stellar Development Foundation, the founders of Stellar, is shaping the digital currency up for a potentially bright future. Indeed, they are steadily and speedily making giant strides that send a signal that Stellar will could remain a sought-after cryptocurrency both now and in the future.
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