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IBM Launches New Payments System Powered by Stellar (XLM)

Stellar is looking to break into the world of blockchain technologies with financial applications, and it seems these last few days have been highly successful for the development team behind this interesting blockchain which already occupies a well-deserved sixth place in the Top 10 of the global market cap.

IBM LogoIBM

The last achievement in Stellar’s list comes with the strategic partnership with IBM to develop a Stellar-powered payment solution that aims to compete directly with the solutions designed by other initiatives such as Ripple’s xCurrent and xRapid.

In a document published by IBM, the famous technology company promotes “Blockchain World Wire” explaining that one of the advantages is that it offers a “new financial rail that can simultaneously clear and settle cross-border payments in near real-time”

“Sending money across borders today requires a series of intermediaries for both clearing and settlement, each adding time and cost to the process. With IBM Blockchain World Wire, clearing and settlement with finality happens in near real-time. The solution uses digital assets to settle transactions – serving as an agreed-upon store of value exchanged between parties – as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking”.

Previously, IBM had announced its interest in using the Stellar Blockchain to create a stable coin that would be backed one-for-one with U.S Dollars. To this end they had signed an agreement with a startup called Stronghold to exploit the potential of blockchain technologies in a new mode of payment processing:

“What we really want to do is enable all sorts of digital transactional networks to settle their transactions with digital fiat currency on the same blockchain networks,” said Jesse Lund, IBM’s head of blockchain services for financial institutions, in an interview for Coindesk

One of the most critical peculiarities is that neither IBM nor the Stellar Development Foundation had made any significant promotions. In fact, it could be said that beyond any advertising, they expect their product to speak for itself.

The Stellar community received this news with optimism. Stellar Lumens (XLM) is the best performing crypto in the top 10 of the global market cap during the last seven days.

There is still much information to be revealed. The product that could become the Stellar-powered main competitor of Ripple’s xRapid will be presented in a demo next month, according to Finextra.

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Stellar (XLM) is Inches Away From Edging out EOS from the Number 5 Spot

On July 19th, Charlie Lee, the creator of Litecoin (LTC), congratulated Stellar (XLM) on passing LTC’s marketcap and edging it out from the number 6 spot according to coinmarketcap.com. Charlie stated the following via Twitter:

Congrats to Stellar on passing Litecoin’s marketcap. That said, it really doesn’t make sense to compare marketcaps of coins that are “printed”, b/c they have an inflated marketcap. Maybe I’m old school, but I only care about decentralized mineable coins.

Since then, XLM has retained the number 6 spot as can be seen in the screenshot below.

XLM firmly in the number 6 spot. Source, coinmarketcap.com

Doing the math, XLM need only be valued at $0.2464 to surpass the current market capitalization of EOS. This value could become a reality due to the following factors that has put XLM ahead in terms of market momentum.

Potential listing on Coinbase

On July 13th, the team at Coinbase informed the crypto-verse that it was exploring the addition of 5 digital assets on its platform. They include Cardano (ADA), Stellar (XLM), Basic Attention Token (BAT), ZCash (ZEC) and Ox (ZRX). Given the fact that a similar announcement – made in June – considering the listing of Ethereum Classic (ETC) actually materialized, then there is a high chance that the group of 5 will be added on Coinbase. Once this happens, the only way is up for XLM.

facebook Rumors 

On Friday, August 10th, a story broke that Stellar had partnered with the social media giant known as facebook. The rumors had hinted that the two firms would work on the creation of a Stellar-based blockchain solution for facebook. The latter company has since denied the partnership rumors but the question still lingers in the crypto-verse.

The IBM factor

The Stellar foundation and IBM have been in a solid partnership for quite sometime now. Notable collaborations include the following:

In conclusion, the Stellar project and coin seem to have a lot going for them in the past few months. These developments will most likely result in XLM edging out EOS from the number 5 spot. Another possibility is XLM ending up surpassing XRP and claiming the number 3 spot.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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New Deal With TransferTo Brings Stellar (XLM) To Over 70 Countries

TransferTo, an international money transfer with presence and outstanding performance in more than 70 countries has aired that it partnered with Stellar (XLM), a significant competitor to Ripple in cross-border money transfer.

The partnership, in a statement by TransferTo, is purposely to brighten the way money is remitted across borders in the world.

The deal, the statement maintained, is to give fintechs and partners who are under Stellar and TransferTo the benefit that the new collaborations will birth.

Stellar and TransferTo are joining forces to make a trustworthy and seamless avenue where remittance would be made easily.

The new technology to be provided by the two partners will be used in cross-border remittance by those who are affiliated to either of the two firms, bringing Stellar to over 70 countries where TransferTo have loyal customers.

The integration of Stellar and TransferTo will enable a more seamless and efficient settlement method between the two partners’ network, the statement by TransferTo has indicated.

Aik-Boon Tan, Chief Customer Officer at TransferTo who spoke on the development, said:

“We always aim to be at the forefront of the payments industry, and by partnering with Stellar, our goal is to trial the blockchain technology and scale our cross-border payment service to better serve our partners and reduce costs. This can enable our partners to better serve both the migrant workers sending money home and their families receiving it.”

In the same line, Lisa Nestor, Director of Partnerships at Stellar.org hinted that “TransferTo is a leader and innovator in the remittance space, and has extensive experience and reach in emerging markets. We’re thrilled to be partnering with TransferTo to offer an expanded network for our current and future partners, as well as continue to drive greater financial inclusion for the underbanked.”

Stellar is a distributed and open-source blockchain platform with strong use cases that link financial institutions and digital financial service providers across the world. There is hope that this partnership will create a low cost but effective avenue where remittance is done with simple clicks.

Stellar Has Been Awesome.

Stellar is becoming a leader in the remittance world. The platform received a Shariah compliance certificate from the Shariah Review Board (SRB), a leading international Shariah advisory agency licensed by the Central Bank of Bahrain.

The certification makes Stellar the first Distributed Ledger Technology (DLT) to obtain Shariah Certification for Payments and Asset Tokenization.

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Stellar Gives Some Interesting Bullish Signals after IBM Announcement

Stellar has had an excellent week at both the fundamental and technical levels. The platform, known as Ripple’s decentralized competition, has seen a considerable increase in its market cap as well as a growing credibility in the general business markets.

A few days ago IBM mentioned that they would be working on their own stablecoin based on blockchain technologies. Stronghold USD will be a cryptocurrency backed one-to-one by fiat US Dollars held at Prime Trust, a bank with which IBM has a solid partnership.

Being Stronghold a payment platform running on Stellar, it is safe to think it can boost no only Stellar’s credibility but also its institutional adoption.

After this news broke, Stellar started a bullish streak that took it to number 6 in the global market cap, overtaking Litecoin from its position.

Stellar Bullish Fundamentals.

IBM Logo

From a fundamental point of view, Stellar could represent a good investment option in the medium term.

IBM’s announcement gives the platform institutional credibility not previously held. Stellar can capitalize on IBM’s strong image to consolidate itself as an attractive option for institutional investors who are not familiar with cryptocurrency but are familiar with IBM’s business.

Similarly, such an adoption can generate an overall effect of “self-fulfilling prophecy.” After realizing about increasing trading volumes, many investors would be more willing to add Stellar Lumens (XLM) to their portfolios, helping to further promote an increase in the value of the popular cryptocurrency.

Stellar Lumens (XLM) Bullish Technicals.

From a technical point of view, Stellar Lumens (XLM) has performed well over the last few days. The drag that Bitcoin (BTC) exerts on the rest of the altcoins is somewhat obvious; however, the bullish trend seems stable, at least in the short term.

Heikin Ashi candles show a bullish trend with no indication of a change in the next few hours or days. In fact, it is possible to observe how a slightly bearish glimpse was quickly dissipated in a short time.

MACD stays high with no sign of a reversal yet. The indicators have no crossover prospects, so it may be worth buying for a small gain in a short time (riskier), or at least hodling until a change in trend occurs (safer).

RSI, of course, shows the enthusiasm of buyers, reaching record highs in 2018. This may have an explanation in the fundamental analysis, so following this signal, it is advisable to hodl, being riskier a token purchase at least at this time

Graphics Created Using Tradingview

With traditional candles, prices have broken the two clear patterns seen in prices, observing a clear break from the bearish trend that had until about 2 weeks ago

Graphics Created Using Tradingview

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Stellar (XML) Dependent Stable Coin Receives IBM’s Support

International Business Machines Corp (IBM) is supporting a Stable crypto pegged to the U.S. dollar. The stable coin, Stronghold USD, which was launched on Stellar (XML) blockchain network adds another feather to the cap of Stellar.

In an announcement IBM declared it is partnering with United State based fintech Stronghold after it decided to make crypto stable through a Tether-like cryptocurrency.

The coin, by all indications, was launched on Tuesday on the Stellar blockchain platform. Information from Reuters specifies that those who buy the coin will have the advantage to deposit greenbacks with the company’s partner bank, Nevada-based Prime Trust for Stronghold to issue the tokens based on a 1-to-1 ratio.

Stable coins became widespread after crypto enthusiasts see the need to expand the use cases of cryptocurrency and the necessity to reduce the volatility of digital coin.

Stronghold USDs according to available information are going to be used by small firms, business, fintechs, and large cooperation.

Jesse Lund, IBM’s vice president of global blockchain, in an interview said the engineering work on the Stable coin has been done, insinuating that IBM will explore its use cases in small and big business.

“IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.”

Talking about the reliability of the coin, Stronghold founder and Chief Executive Tammy Camp said:

“The token allows folks to do payments, foreign exchange between companies in a very seamless and frictionless and more secure way,” adding that “It enables people to be able to trade that token with other assets and other tokens as well”.

Yesterday, Ethereum World News reported that the Stellar (XML) Development Foundation bagged a Sharia-compliance certification for payments and asset tokenization. The certification makes Stellar the first Distributed Ledger Technology (DLT) to obtain Sharia Compliance Certificate.

Stellar, received the certificate form the Shariyah Review Board (SRB), an internationally recognized Sharia advisory agency authenticated by the Central Bank of Bahrain.

This giant stride, among other things are seen as stepping stones for Stellar and the cryptocurrency community at large.

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Stellar (XML) Becomes The First To Receive Sharia Compliance Certification

The Stellar (XML) Development Foundation has received a Sharia Certification for Payments and Asset Tokenization, making it the first Distributed Ledger Technology (DLT) to obtain the recognition.

The certification, which was gotten from the Shariyah Review Board (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, attests to Stellar’s determination to bring its services to the Muslim, and the Middle East especially.

Interestingly, Stellar has become the first distributed ledger protocol to receive Sharia compliance certification in money transfer and asset tokenization space. The certification extends to applications and usages of lumens (XLM).

In a statement, Stellar indicated:

“We advance our mission of financial access and inclusion by obtaining a Sharia compliance certification for the Stellar technology and network.”

“The Shariyah Review Board (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.”

The accreditation, will help grow the Stellar ecosystem in regions where financial services require compliance with Islamic financing principles.

The statement maintained that at the moment, Islamic financial institutions in the Gulf Collaboration Council like Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE and some parts of Southeast Asia like  Indonesia and Malaysia are now going to be integrating Stellar technology in their Sharia-compliant product and service offerings.

The development is no doubt a big advancement for the Stellar network for the fact that this region is an endpoints of popular foreign worker remittance corridors.

Stellar, is now planning to discuss with global financial institutions on how to best use Stellar in their Sharia-compliant financial services and products. This announcement is no doubt an additional boost for Stellar.

Few days back, Coinbase announced it is exploring adding Stellar (XML) among other coins. However, the announcement did not indicate the addition of Ripple to the platform. The move heightened the price of Stellar by 22% since.

Different observers are of the opinion that the announcement is aimed at curtailing in-house trading as allegedly noticed in the past.

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Stellar (XLM) Gets More Popularity As Co-founder Named In Blockchain Industry’s Top Ten Individuals

The world seventh most recognized cryptocurrency has made it to the moon as its co-founder was named among one of the top ten most influential persons in the blockchain industry.

This was made known in a tweet by the Cryptocurrency earlier today.

“Jed McCaleb, Stellar co-founder named as one of ten most influential individuals in blockchain revolution,” the tweet reads.

While blockchain seems to be one of the most important and renowned technology in the world today, those actively involved in the technology have been a crucial figure in the world of innovations.

Jed McCaleb made it into the list of 10 most influential individuals in the blockchain industry today. Published by TheNewYorkTimes, the post, which was tagged “The People Leading the Blockchain Revolution” featured other important persons like Vitalik Buterin (creator of Ethereum), Elizabeth Stark (the chief executive of Lightning Labs) and Jihan Wu (owner of Bitmain), among others.

Attaching more importance to McCaleb’s achievement, many have opined the development would have surely given the altcoin more popularity in the crypto globe.

According to the post, McCaleb was included in the list due to the proficiency of the three companies he had been actively involved in the last decade.

If you remember, McCaleb who is also the cofounder of Ripple left the company after some years to establish Stellar. Before establishing Ripple, McCaleb significantly got involved in the creation of Mt. Gox, while at the moment, he is a standing cofounder of Stellar.

Mt. Gox, based in Shibuya, Tokyo, Japan was once rated the world largest Cryptocurrency exchange in the world as it was recognized in 2014 for executing more than 70% of all bitcoin transactions throughout the globe.

Launched in 2013, Mt. Gox was involved in a massive heist that saw the carting away of over $450 million of customers’ fund.

Also, Ripple has been a prominent Cryptocurrency in the blockchain industry and more importantly in remitting funds. The altcoin possesses the state of the art tools designed for cross border remitting.

Ripple, through its proficiency in international transaction settlement, has been able to bag countless of partnerships with well recognized financial companies across the globe.

Stellar In The Market.

The market has been a bit bearish for some time and most of the cryptos have been losing their value. Presently priced $0.2026, Stellar has lost 0.88% of its value in the last 24hrs. Contrarily, in the last 7 days, Stellar added 4.75% to its market value.

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IBM and Veridium Labs To Utilize The Stellar (XLM) Blockchain To Fight Global Warming

The case for the use of blockchain technology and cryptocurrencies to solve real life problems has just got a major boost with the news announcement that IBM and Veridium Labs will be using Stellar’s (XLM) blockchain to tokenize the process of issuing and redeeming carbon credits. This will in turn help in monitoring the effects of carbon emissions from big companies and institutions to farther aid in the reduction and eventual elimination of the green house effect that has been blamed for a lot of climate change. From intense hurricanes in the Americas, to the prolonged winters in Europe and even the continual rain experienced in East Africa and the melting of the polar caps, climate change is indeed a a reality.

A carbon credit is a permit or certificate allowing a holder to emit a certain amount of carbon dioxide and other greenhouse gases. One credit is the equivalent to a one ton mass of carbon dioxide. There exists carbon markets where companies and large entities with emission processes, can buy and sell these credits. Think of it as a crypto-market, with the right to emit carbon-dioxide being traded.

Here is where Stellar (XLM), IBM and Verdium Labs have figured out a cool way of simplifying the entire process on the blockchain. The initial token sale will first go towards re-foresting a 250 square mile portion of rain-forest on the island of Borneo in Indonesia.

The token, known as the Verde, will then be used to track or audit the process of the issuance of these carbon credits and the carbon market trading that follows. These carbon markets will then be transferred onto the blockchain for easier tracking. The trading and redemption will be transparent, secure and fast on the Stellar blockchain. The goal will also to get a clearer picture of the full extent of the pollution carried out by the various companies and institutions across the globe.

Stellar and IBM have had a solid partnership that was formalized last October. IBM has then proceeded to run 9 Stellar nodes to facilitate the easy transfer of funds across the globe.

Veridium labs is a fintech company that aims to transform the carbon credits industry by tokenizing the process as highlighted below. The Verde will provide a digital asset solution for customers and Fortune 500 companies to track and reduce the environmental impact of their operations.

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