Stellar is a platform to Integrate, move money quickly, reliably, and at almost no cost. It is currently at 6th spot in the green while its adoption keeps on increasing. Recently, a US-based qualified custodian announces support for Stellar while it is being actively used as the network of choice to build platforms on due to fast speed, low cost, and being reliable.
Stellar becoming a popular choice
Recently, a lot of developments have taken place leveraging Stellar. Now, Prime Trust, a US-based startup that offers custodian services is adding support for Stellar touting,
“The qualified custodian is the first and only company to securely custody all ERC-20 tokens, and now all Stellar tokens.”
The trust company is adding full support for Stellar which according to its Chief Product Officer, Kevin Lehtiniitty:
“Stellar 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.”
In another instance, PixelAlpha, will be using Stellar as the settlements layers for their decentralized cryptocurrency derivatives exchange.
In the medium post, Alex Otsu, the founder of PixelAlpha shares:
“There 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.”
Meanwhile, another instance of Stellar adoption is Cygnus, a startup that is building a “platform that allows conventional merchants to accept XLM, and in the future, fiat and native trustlines.”
As for choosing Stellar Network, it states,
“I’ve been actively using the Bitcoin and Ethereum networks in the past for re-selling virtual goods (items in CS:GO/Dota 2) – last December, it became clear that these platforms would not be able to scale enough, when fees were almost 20 dollars per transaction for BTC. Therefore, I chose to build on the Stellar Network because: Transactions settled within seconds, near zero fees, excellent development library and web API, strong community and development support, existence and ease of creating fiat trustlines, and FBA has been battle tested and offers a decent level of decentralization for the speed and price of transactions.”
And recently, BitGo, a crypto custody, and security firm added Stellar to its platform as well further promoting its adoption.
CryptX.EU.COMmay source articles from multiple sources and re blog it here. Feel free to contact us @email@example.com you have any objections with us directing traffic and back-links to your site. We do not claim any copyright or ownership for sourced content. You are welcome to re-blog any article onCryptX.EU.COMwith appropriate source and credits. Let’s build a better community together.