Stellar (XLM) has been on the positive news for the last two months and the results are beginning to bear fruits in a market full of uncertainty. To strengthen is stronghold on the money transfer front, the coin has partnered with TransferTo, a mobile money transfer firm with a global network. This is an overdue collaboration given the increasing demand for international money remittance services.
TransferTo is not a stand-alone entity in the market. Over the years, the firm has built partnerships with big organization and its user base is on the rise. Stellar will capitalize of the user base to jump start its adoption campaigns to the remotest parts of the globe through its decentralized network. The platform is also wooing financially stable institutions to boost the XLM value.
Stellar (XLM) Basking on Reputable Partnership Glory
The partnership will stretch the blockchain capabilities further given that the two entities’ visibility across the globe is renowned. In addition, it will expose the two to new demand driven technologies in the money remittance world. The increased mobile global uptake appears to be the force behind the partnership.
Based in a crypto safe haven; Singapore, TransferTo will add value to Stellar by tapping into the B2B virgin market that is dominated by smartphone users. Mobile money transfers and settlement demand is on the rise and the two outfits will deliver further compared to convectional. Apart from connecting individual users, the partnership will reposition Stellar leadership is serving the institutional consumer.
TransferTo and Stellar (XLM) Collaboration Benefits
TransferTo systems are mature and have been tested in the market while Stellar (XLM) ones are just teething from beta and this makes it the perfect match. As users wait for the resulting product package, both outfits will experience a surge in adoption which is what Stellar is looking for. The surge in XLM price is a clear indication of the demand on the ground.
While inking the deal, the Chief customer officer at TransferTo, Aik-Boon Tan said:
“We always aim to be at the forefront of the payments industry, and by partnering with Stellar our goal is to trail the blockchain technology and scale our cross-border payment services to better serve our partners and reduce costs. This can enable our partners to better serve both the migrant workers sending money home and their families receiving it.”
The above statement seems to point to Stellar as one of the best fit for the partnership. The two seeks to offer affordable option from the convectional banking establishments. The two are set to discern their followers in fast and real time movement of funds across states and continents. Head of partnership at Stellar, Lisa Nestor comments seem to support the venture:
“TransferTo is a leader and innovator in the remittance space, and has extensive experience and reach in emerging markets. We’re thrilled to be partnering with TransferTo to offer and expanded network for our current and future partners, as well as continue to drive greater financial inclusion for the under banked.”
With Stellar turning out to be the current preferred money transfer platform, the excitement seems to favor positive surges on XLM. The native coin has been gaining momentum and its July performance is a true testimony of the coin’s intent; to gain traction and become more valuable as its real world user cases continue to grow.
At press time, The Stellar XLM coin is trading at$0.328148 with marginal gains of 9.06% to the green buck and 8.47% to Bitcoin. The price spike is spread across the market though XLM seems to have been stretched north by the TransferTo partnership a few hours ago with many traders hoping it will hold longer.