The Future Just Got Brighter for Stellar (XLM)
The cryptoverse has been through a lot of volatility since the beginning of the year, raising questions if it would be possible for an asset to hit the moon in 2018. The current value of assets in the market is not a determinant of their future worth, rather the developments, and advancements made by the Team behind it.
Stellar (XLM) has recently been receiving a lot of attention, and for the right reason too. The digital asset has achieved a lot with its almost free payment systems. Stellar is already building a name for its self in the cryptoverse as one of the most scalable networks.
In acknowledgment of Stellar’s solid framework, KIN Foundation announced it would be performing a hardfork on Stellar’s blockchain to integrate Stellar’s scalability solutions to KIN’s current Ethereum based blockchain.
If KIN foundation goes through with the process, Stellar would have built a reputation for its self as one of the most scalable projects in the cryptoverse. While that is a future project which could lead to a price pump, there are certain projects and partnerships of Stellar which could start one in a very short amount of time.
Stellar – IBM Partnership Just Moved Up
While the partnership between Stellar and IBM (International Business Machines) is no news, the tech giants have announced that both corporations would be teaming up with Veridium Labs on a project that would allow carbon credits to be traded by means of the blockchain technology.
This project is IBM’s first actual token on a public network, although designed to be public, the token would not be for public use. This partnership could see Stellar move up the pecking order in the cryptoverse.
Stellar to be Used for Remittance Projects
Crypto projects have recorded its most important advancements in the financial industry, as traditional payment methods from banks attract insane transaction fees for cross-border payments and the bottlenecks attached. With more Fintechs turning to cryptocurrencies for easier payments, BloomX has turned to Stellar.
BloomX’s goal is to provide a digital platform for Money Services Businesses (MCBs). Stellar’s cheap, fast, simple and highly scalable transactions are the driving force behindBloomX decision to partner with Stellar, and use XLM for remittance its purpose.
Crypto – Fiat Exchange (CFX) is the first project on BloomX, and it allows money changes to buy and sell cryptocurrencies using fiat currency. BloomX has also set out to build tools for MSBs and moneychangers in the future. This partnership would see Stellar process all of BloomX’s transaction upon complete integration.
In addition to the interesting Stellar partnerships, Heir, a company building the next generation estate planning and inheritance solution to ensure real world and digital assets are protected for their nest of Kin and loved ones is doing so using the Stellar platform.
Performance and Price of Stellar in the Market
Stellar traded as high as $0.48 USD in the closing days of April, however, entering into May, the entire crypto space was struck by drastic decline which sent the value of over 95% of cryptocurrencies reel backwards.
Stellar seems to be out of the faltering zone, and in the green today. As of this writing, Stellar (XLM) is up by 2.3% in the last 24 hours and is now trading at $0.322 USD. Stellar now holds a market capitalization of $5.98 billion USD, which makes it the 8th largest cryptocurrency.