Stellar

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterwards, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

The Stellar project was launched in 2014 by Ripple co-founder Jed McCaleb and his partner Joyce Kim. McCaleb left Ripple in 2013 due to disagreements about the project’s vision with fellow co-founders.

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked—but its priorities shifted to helping financial firms connect with one another through blockchain technology. 

The network's native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

There are about 50 billion lumens in existence. No more lumens will be created. There are currently about 20 billion lumens circulating in the open market

The Stellar Development Foundation, which is a non-profit organization that supports adoption of the Stellar Lumens payment network, was created in collaboration with Stripe CEO Patrick Collison. Stripe received 2 billion lumens in return for a $3 million seed investment. 

Ukraine's Ministry of Digital Transformation has inked a memorandum of understanding with the Stellar Development Foundation, with the two sides agreeing to cooperate on a number of digital asset-related initiatives. The post Ukraine signs agreement with Stellar Foundation to work on CBDC, digital asset strategy appeared first on The Block.

Ukraine signs agreement with Stellar Foundation to work on CBDC, digital asset strategy

The Stellar Development Foundation's work with Ukraine's government to digitize the hryvnia will officially launch this month.

Ukraine Government Picks Stellar to Help Build National Digital Currency

The Stellar Development Foundation (SDF) invested $3 million worth of Stellar lumens in Latin American cross-border payment and exchange platform Settle Network.  The post Stellar Developmental Foundation invests in Settle Network to support stablecoin-based payment tools appeared first on The Block.

Stellar Developmental Foundation invests in Settle Network to support stablecoin-based payment tools

Germany's Bankhaus von der Heydt is working with Bitbond for the first direct issuance of a stablecoin by a bank on Stellar, the firms said.

News for Stellar Crypto (XLM)