Stellar Lumens on the Rise
Stellar Lumens is enjoying a price pump. So whats going on? Let’s have a look at some background on Stellar Lumens and the recent news
Lindsey Lin writing at www.stellar.org 17th July, reports
Today, we advance our mission of financial access and inclusion by obtaining a Sharia compliance certification for the Stellar technology and network. The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.
This is very big news!
It has been a huge year, a Stellar year if you will. The non-profit organisation out of San Francisco has Jeb Mc Celeb, one of the key figures in Crypto at the helm. With a star-studded team and a stream of good news Stellar has enjoyed the biggest appreciation in market cap of any Cryptocurrency. Currently sitting at 7th overall with a market cap of 5 Billion USD, Stellar began its surge off the back of a partnership with IBM in October of last year. A project quickly followed in the South Pacific islands and Australia with IBM partnering with a little-known company, Klickex. Stellar reported at the time
Stellar Lumens Partners with IBM
Today we are excited to announce that Stellar is partnering with IBM and KlickEx to develop a blockchain-based cross-border payments solution proven to significantly reduce transaction costs and increase transaction speeds. This solution will help financial institutions and consumers eliminate inefficiencies and frustrations in current cross-border payment systems, including high fees, slow processing, error-prone transactions, and inefficient capital utilization.
So the July 17th announcement by Jesse Lund the VP, Global Blockchain Market Development, FSS – IBM Industry Platform shows real substance to the IBM Stellar partnership. He writes;
Using our blockchain network, we’ve shown that settlement can be achieved in real time using tokens and coins. There is no post-transaction processing required as with conventional payment systems today. So how does it work? The tokens would be engineered, hosted and managed according to a standards-based lifecycle policy developed by IBM, operating on the Stellar network. Stellar is a publicly accessible, secure and open source blockchain protocol with a number of internal features that set it apart from other distributed ledgers, including a digital asset registry and distributed exchange, making it simple to issue digital tokens and easy to trade and transact with others.
Stellar Lumens XLM
Holders of XLM, the Stellar token must be pretty happy right now, it has been a good start to the week. This all comes off the back of Coinbase, the San Francisco based exchange issuing a statement last week that it is exploring the addition of five new coins to its trading lists, including Stellar Lumens XLM.
Stellar trades on numerous exchanges with Binance having the largest volume. Stellar Lumens is showing a huge 25% increase in value in a 24 hour period at the time of writing. It has also been announced 17th July that they will start trading on Kucoin.
It looks like there will be plenty of action in the coming weeks so be sure to subscribe to our newsletter so you do not miss anything.
If you would like help with learning how to buy Stellar Lumens or any other coins contact us below and we will get back to you as soon as we can.