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Stellar Foundation Is Working In Countries across the Globe to Boost the Ecosystem of Stellar (XLM)

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Last month was one of the best months the digital currency market has seen so far this year. While the major crypto bull run for this year started on the 1st of April, the month of June saw almost all coins in the market test new year-to-date highs. The price of Bitcoin (BTC) – the most dominant digital currency in the world – surged significantly and tested a high of almost $14k. Other digital currencies such as Ethereum (ETH), XRP (XRP), Binance Coin (BNB), Litecoin (LTC), and Stellar Lumens also tested year-to-date highs.

The recent bull run last month also saw the price of Stellar Lumens surge to a high of $0.1306. The price of Ethereum (ETH) broke over the $300 mark and traded over the $300 mark. Another digital currency that greatly benefited from the bull run is Litecoin (LTC). The price of surged enormously and it traded close to the $150 mark with ease. However, over the past week, the digital currency market has been somewhat stagnant. The prices of digital currencies have been in a tight range, with Bitcoin (BTC) struggling to break over the $12k level. While the price of Stellar Lumens has plunged significantly from its year-to-date high, the team behind the project has been working to boost the adoption, use, as well as the ecosystem of blockchain.

Stellar Lumens Goes Global to Boos the Ecosystem of Stellar – Cryptocurrency News Today – Stellar Lumens News Today

The team behind the Stellar Lumens project has been working very hard to make sure the digital currency project remains relevant in the crypto space. While the firm has achieved a considerable level of success over

the past years, they are still working to achieve more milestones. Recently, Lisa Nestor – the head of partnerships at the Stellar Development Foundation – said that the blockchain project is working in countries across the globe to boost the ecosystem of Stellar Lumens (XLM).

In a recent interview, Lisa Nestor said that most of the successful efforts of the Foundation so far are in Africa and South America. During the interview, she said:

“In Nigeria, Mexico, and Brazil, there are a lot of firms that have the capacity to provide really good, local currency deposit and withdrawal services into the ecosystem of Stellar. Though these firms might not be as big of a brand name as IBM, they are really important and they are playing a major role in getting the network to where it needs to be. That means a lot of methodical, slow, one-by-one discussions, but I think it is critical.”

Stellar Lumens Price Analysis – Stellar Lumens Price Prediction – XLM USD Live Price – Cryptocurrency News Today – Cryptocurrency Market Update

Stellar Lumens (XLM) is currently trading in the green after a recent plunge of more than 6 percent. Stellar Lumens is one of the biggest rivalries of XRP (XRP). The digital currency has seen a great level of adoption since its emergence. Stellar Lumens has great potentials and it has a promising future. At the press time, XLM USD price has found support at the $0.1000 mark. On the upside, the resistance of the coin is at the $0.1100 level.

Stellar (XLM) Price Today – XLM / US

NamePrice24H (%)
Bitcoin (BTC)$11,560.002.84%
Stellar (XLM)$0.1040792.98%

At the time of writing, the price of Stellar Lumens (XLM) is $0.1021 after an increase of about two percent over the past twenty-four hours. The current market cap of the digital currency is $1.98 billion with a trading volume of $321 million over the past day.

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Stellar Lumens News Today – Headlines for January 16

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  • Visa buys the Plaid financial platform to compete with Stellar Lumens and Ripple
  • The deal cost twice of Plaid’s worth at $5.3 billion
  • The acquisition will improve cross-border payments

Stellar Lumens news today – global payments processor Visa has reportedly completed a deal that will ensure the improvement of cross-border payments. The company has reportedly acquired the Plaid financial platform in a $5.3 billion deal. Plaid is a data network that makes tools that ensure that people can connect and exchange any type of financial information on applications and services like Venmo, Abra Wallet, Coinbase, and Transferwise.

With Plaid, users can manage their saving and spending habits. Plaid has been operational since 2013. It was founded by Zach Perret and William Hockey and is headquartered in San Francisco, California.

A Match Made in Heaven

Recall that Visa had previously promised to expand the level of its operations and enter into new waters. The firm also intended to expand its profile and enter into markets. Now it has moved to acquire Plaid. This acquisition might just be exactly what Visa needs to fulfill its lofty ambitions. The decision to merge with Plaid can boost the payment processing capabilities of Visa’s customers. It is also expected to serve the entity’s current and new clients better.

The scheme will expand Visa’s desirability and the scope of its

services to users. When reached for comments, the CEO of Visa, AI Kelly said this about the acquisition of Plaid:

“Plaid is one of the leading entities in the ever-growing fintech sector with high talent and capabilities. This acquisition, added with to our many fintech efforts underway, will place Visa in a good position to deliver more value for financial institutions, developers, and consumers.”

Visa May have Toppled Ripple, and Stellar with its New Acquisition

It is well known that the demand for rapid cross-border/international payment services is very high. Hence, this recent acquisition will allow Visa to meet this demand better. It may come as bad news for other providers like Stellar and Ripple. Ripple reportedly has 300 partners around the globe currently, with some of their partners long-standing heavyweight financial institutions. Ripple’s expectations remain bullish for now as the network expects to do some serious business this year.

Stellar Lumens, on the other hand, has a huge share of the payment sector which might make it envious of Visa’s recent acquisition of Plaid. Obviously, the network would be plotting a counter-attack. Recently, Stellar partnered with Thai tech-based firm Lightnet. Lightnet is an ambitious firm seeking to overtake SWIFT and be crowned the number one international payment system. Lightnet has since realized a whopping $31.2 million in VC which will be used to create a software solution based on Blockchain used by Stellar Lumens.

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News Today – Top Headline for Stellar Lumens, January 12th, 2020

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  • Thai-based Lightnet will replace SWIFT with Stellar and Ripple
  • The Blockchain startup has raised $31.2 million in its recent financing round
  • Lightnet to facilitate $50 billion worth of transactions annually

Stellar Lumens News Today – Getting a reliable low-cost global remittance solution for immigrants looking to send funds to their families has become difficult. Existing solutions like SWIFT offers over the top charges and is relatively slow. This has been a challenge for users who require a more efficient service. The Stellar network can be used to provide this solution. Now one firm is looking to make things easier for those affected.

According to reports, a Thai-based Blockchain provider, Lightnet, is set to replace its SWIFT payment solution with Stellar. The Blockchain startup that just raised $31.2 million in VC funding is looking to attack existing systems like SWIFT. Lightnet’s recently raised capital will be used to build a Stellar based Blockchain solution which will replace SWIFT.

4 Billion Users will benefit from the Stellar-backed Technology

Some of the investors who raised the funds for Lightnet include UOB Venture Management, Uni-President Asset Holdings, HashKey Capital, Signum Capital, Hopeshine Ventures, Du Capital, Seven Bank, and Hanwha Investment & Securities. China and India are Lightnet’s largest target markets for its new Stellar-based solution. Together, China and India account for half of the global population.

Per the

report, the reason Lightnet was founded was to revolutionize the global remittance market. Lightnet wants to help migrant workers who don’t have bank accounts and have to send money home to their families with old and overpriced remittance methods as well as long transaction times. The remittance market will gradually be taken over by Lightnet. It will eventually see the demise of existing systems like SWIFT.  According to the vice-chairman of Lightnet, Tridbodi Arunanondchai, a volume of $50 billion will be handled by Lightnet in the next three years.

Lightnet Already offers BirdgeNet, SmartNet, and LiquidNet

Lightnet already offers three highly innovative payment solutions including BirdgeNet, SmartNet, and LiquidNet. The main platform has already been completed and the first of many transactions is expected to be completed by the conclusion of the quarter of this year. The report also adds that the Thai-based Blockchain solutions company plans to establish more collaborations with big entities like MoneyGram, Seven Bank, Ksher in Japan.

According to Lightnet, this will be done to make sure the ecosystem continues to grow and move in the right path. Ripple and Stellar provide cross-border payment solutions in real-time and low cost. Ripple has been working with MoneyGram since last year and the network has achieved strong results so far. Stellar recently presented a ten-year financial plan that calls for the rest of the 30 billion XLM, to be used for marketing, relationship development, and developer compensation.

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Crypto Expert Mati Greenspan Criticizes Stellar (XLM), Says Its Tokenomics All Messed Up

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Recently, the focus of attention of the crypto community on Twitter has been mainly on Bitcoin and Ripple.

Unlike other projects, in which teams (Tron) or the community (XRP) are very active on social media, there is no much-discussed news from the Stellar Development Foundation (SDF) or about XLM price movements.

The news that attracted a lot of community’s attention was when back in November 2019, the Foundation made a decision to burn half of the XLM token supply.

When asked about his opinion about XLM, the prominent crypto analyst and the founder of Quantum Economics Mati Greenspan was not particularly enthusiastic about the Stellar tokenomics. However, he said the SDF is taking steps in the right direction.

“The Stellar tokenomics are all messed up”

Mati Greenspan is known to be a reasonable Bitcoin supporter. He is also a long-term XRP bull, even though he disagrees with the major Ripple’s policy regarding XRP.

When he was asked about his opinion on Stellar, the 13-ranked coin on the CoinMarketCap scale, Mati Greenspan stated that he had never been bull

ish on XLM for longer than a few days.

He believes that their tokenomics is all messed up. However, he points out that the decision to take half of the XLM supply to the incinerator was ‘a step in the right direction’.

SDF grabs 98 percent of all inflation payouts in XLM

As reported by U.Today previously, the SDF has recently pocketed 98 percent of all the inflation payouts. Apart from that, it controls 80 percent of all the total XLM supply. Similarly to XRP, Stellar is often criticized as a centralized project.

In 2019, XLM proved to be one of the worst-performing assets, according to Alistair Milne, the CIO of the Altana Digital Currency Fund. XRP, XLM and Tron are among the top losers of last year, while Bitcoin and Tezos were the best performing digital assets on the market.

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