XLM Stands Up With Real World Application
Coming in at number 6 as one of the biggest cryptocurrencies in the world is Stellar. Adoption is increasing and the crypto is currently in the green after yesterday's market crash. A US-based qualified custodian, Prime Trust recently announced that they will support Stellar while it is being actively used as the network of choice to build platforms on due to quick speeds and being trustworthy.
Stellar is the 6th biggest digital currency in the world and so itâs expected that it makes a few headlines here and there. There have been a lot of recent developments taking place in the industry which are leveraging Stellar. Prime Trust is now coming in which offers services in bringing in more support for Stellar touting.
âThe qualified custodian is the first and only company to securely custody all ERC-20 tokens, and now all Stellar tokens.â
According to CoinGape, the trust company is adding full support for Stellar which according to its Chief Product Officer, Kevin Lehtiniitty:
The trust company is adding full support for Stellar which according to Kevin Lehtinitty, the Chief Product Officer at the company who said has spoken on the matter and said:
âStellar is emerging as one of the most popular blockchains for tokenizing financial assets, as well as securities due to its speed and out of the box support for issuing and trading tokens adding support for Stellar tokens is a natural extension for our digital asset business and we are thrilled to add this blockchain to our custody capabilities.â
In another situation, PixelAlpha will be utilising Stellar as the settlements layers for their decentralised digital currencies derivatives exchange.
The founder of PixelAlpha, Alex Otsu said in a recent Medium post:
âThere are several features which make their DLT uniquely suited for operating a derivatives platform, but speed, reliability, and simplicity were key differentiators. Stellar allows our transactions to settle in seconds, rather than the minutes that other public chains take.â
At the current time of writing, stellar is number 6 according to CoinMarketCap and is in the green after a 1.08% increase. The XLM is priced at $0.216 currently so things might be looking up.
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