The last few days have seen Stellar Lumens bask in the media limelight and the interest is centered on its recent adoption. One thing stands out very clear; sending money has become easier than sending an email using the Stellar (XLM) network. The partners on the system appear to be very happy with the seamless transaction settlement locally and abroad.
Stellar (XLM) High Flying Partnerships
One of Stellar partner, SatoshiPay is set to enter the London Stock Exchange through an IPO and this is going to be a game changer for XLM. Though their web based “pocket change” innovative wallet, SatoshiPay, you will be able to use XLM to make micro-transactions as well as tipping your favorite content developers.
While making the announcement, SatoshiPay says:
“We are preparing to go public on AIM, the market for growth companies at the London Stock Exchange, later this year. We are also happy to announce that London based crypto-investor Daniel Masters is supplying us with €566k in pre-IPO funding. This will be a major boost for Stellar (XLM) visibility and adoption.”
The goal of SatoshiPay is to enter into a collaboration that offers liquidity growth. This will enable the outfit to fund its development projects whiles its shareholders continue to trade in shares. The end result will be added confidence based on sound governance in a transparent environment. This cooperation with benefit XLM once adopted is a payment settlement platform and a good UK market entry.
Stellar XLM) Push from TransferTo
TransferTo is also playing a major role in XLM momentum gains. The mobile money transfer outfit has increased Stellar Lumens to more than 70 countries where the system has been a major player. However the KYC/AML restrictions are impacting negatively on the coin growth, those who need cross border remittances are yet to be reached meaning there is still a lot of potential awaiting exploitation.
KYC and AML requirements in the crypto verse are limiting the capabilities of many needy communities and Stellar has not been spared. Once these are ironed out, the inroads for the digital coin are unlimited. Stellar and TransferTo are fighting for the extra inch for financial inclusion for the marginalized or the unbanked.
The announcement read in part:
“Under this collaboration, financial institutions and partners of both Stellar.org and TransferTo will benefit from the combined network coverage and be able to leverage new technologies to send and receive money more efficiently to more than 70 countries.”
Binance Exchange: A Huge Route to Market for Stellar (XLM)
AS Stellar XLM continues to get increased listing on major exchanges, Binance appears to be the convenience route to the market for the coin. The bulk of XLM trades accounting to 32.67% of the total volumes in the last 24-hour trading session. These volumes continue to increase which is a clear indication of increased adoption.
After IBM showed support for Stable Coin a few days ago, the ripple effect appears to trickle down to XLM price surge. Stable Coin will ride on the Stellar Ecosystem and this perfect timing and match has pushed the XLM price and value north. This and the Sharia certification are some of the reasons XLM momentum is unstoppable; at least for now.
At press time, the XLM price stood at $0.321362 with 24-hour gains of 5.31% to the green buck and 2.02% against Bitcoin. The coin market cap spike has seen the coin rank 6 in global crypto value and this is keeping the market leaders worried. If the current momentum is anything to go by, it is about time for investors to stock up XLM.