Today, BitGo announced that it is supporting Stellar. It is the first multi-signature wallet and custodial solution to support the digital asset Stellar Lumens [XLM] which is the asset owned by the Stellar network. XLM is an open source distributive ledger.
With Lumens added to the list of tokens and coins on BitGo, the custodial solution now supports 115 virtual currencies.
According to the blog post, the wallet offers the best security for institutional investors who have an eye for investing in different cryptocurrencies to deal-out the risks involved.
The solution supports 9 blockchains which include that of Bitcoin, Ethereum, Ripple, Stellar, and others. Along with these major cryptocurrencies, it also supports 5 of the 6 major stablecoins and 101 ERC-20 tokens.
According to Mike Belsche, CEO of BitGo, the network benefits its users with a unique payments system. The network’s infrastructure permits cross-asset transfers of value which includes cross-border payments and brings to its clients an instant clear, execution, and settlement platform.
“We’re continuously adding support for digital currencies that our clients express interest in, and lumens are a natural next addition. The Stellar network offers BitGo clients access to a public financial structure for cross-border transfers, making XLM an important new asset for investors,” said Ben Chan, CTO of BitGo
Earlier the network used a manual method to create a multi-signature wallet for Lumens. Currently, BitGo assures security to the cryptocurrency by providing the multi-signature wallet and custody solution
“As the leading institutional custodian service and business wallet in the market, BitGo provides a broad range of options for anyone interested in holding lumens. BitGo broadens institutional client exposure to Stellar by making it significantly easier and more secure to hold XLM,” said Jed McCaleb, Co-Founder, Stellar Development Foundation.
Coinsquare Acquires Decentralized Cryptocurrency Exchange StellarX
Canada-based cryptocurrency exchange Coinsquare has acquired decentralized exchange (DEX) StellarX.
Announcing the news on Thursday, the firm said the purchase comes it acquired stellar wallet BlockEQ last December. That product will be rebranded to become the “anchor wallet” for the StellarX platform going forward. Coinsquare did not disclose the cost of the acquisition.
StellarX is a “full featured” decentralized exchange app native to the stellar protocol and offering trading in a range of cryptocurrencies and fiat currencies – the latter being unusual for a DEX, allowing users to fund with fiat if they own a U.S. bank account. As a DEX, users retain sole custody of their funds, and trade in a peer-to-peer fashion. StellarX has no access to users’ funds or keys, and charges no fees.
As part of the acquisition deal, BlockEQ cofounder Megha Bambra will now lead StellarX as it moves to continue developing in accordance with its product roadmap announced by Stellar in the autumn of 2018. While now owned by Coinsquare, StellarX will continue to operate under its own brand, according to the announcement.
StellarX will be a wholly owned subsidiary of Coinsquare, based in Bermuda. The firm said it will now seek to license the DEX under the country’s crypto-friendly regulatory regime.
“We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key,” said Coinsquare CEO Cole Diamond. “Stellar is the fastest payment network in the world and we see enormous potential to create industry leading services on StellarX to further broader adoption.”
The news comes exactly a year after after Coinsquare raised $30 million in equity financing led by financial services firm Canaccord Genuity. The investment, the company said at the time, “will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers’ needs.”
However, the firm has felt the effects of the crypto bear market in recent months and laid off 40 employees in early February.
Stellar (XLM): This triangle breakout targets $0.1
- Cryptocurrency market could end the week in gains like the rally at the end of last week.
- Stellar breaks tringle resistance as bulls set eyes on $0.1.
It is now one week since the sudden bull rally that swept across the entire market. The market is ending this week making signals for an impending rally. Stellar is among the market leaders after breaking above the triangle resistance on the 4-hour chart. It has corrected higher 3% on the day to trade at $0.0805.
The technical indicators applied to the same chart are sending positive signals as well. For instance, the Relative Strength Index (RSI) is almost at the same level as those of Friday 8. The indicator has avoided the oversold region throughout the week in spite of the correction from the highs around $0.0820. In addition, the Moving Average Convergence Divergence (MACD) has recovered from the negative territory and is sending bullish signals at -0.000521.
Short-Term support is established at 0.08 while both the 50-day Simple Moving Average (SMA) and the 100-day SMA on the same chart will offer support around $0.078779. Moreover, further declines will be supported at $0.0760 as well last week’s low at $0.07328.
XLM/USD: Stellar releases v10.2.0
- Stellar announced that they are releasing v10.2.0.
- The new version is bringing along a host of stability improvements and new features.
Stellar announced via Twitter that they are releasing v10.2.0: “Stellar v10.2.0 has been released. You can read the release notes on GitHub.”
According to the GitHub, the new features that this version is bringing in are:
- Metrics have been simplified and documented
- Added progress meter when catching up (applying bucket)
- Ability to log (debug/trace) transactions and their results
- SCP status includes delayed validator information to help identify slow validators in quorum
- New command line format now accepts global switches anywhere (ie before or after sub-command name)
The stability improvements that will be coming along are (taken from GitHub):
- We now distinguish peers that we’ve never heard of from peers that we have been able to connect to. This should increase the overall quality of peers that are being used by the network.
- SCP: there was a minor issue in the SCP code (nomination protocol) that could cause excessive timeouts in some cases.
- Archive nodes would sometimes fail to publish, causing retries and delays in publishing new snapshots
- Fix issue where the COMMANDS config was not working properly on startup
- Improved performance when processing failed trades in order book
- Fix crash when starting two stellar-core processes sharing the same buckets folder
- Improved performance and reliability when downloading files during catchup
- Performance: avoid creating too many files in the same folder during catchup
- Performance: avoid forwarding too many messages when peers connect to each other
- Updated to latest asio release.