Stellar Registers 500% Increase in Active Accounts During the Last 6 Months

The Stellar Network continues to grow not only in terms of market capitalization but also in the interest it generates in the public. XLM favorable behavior has led it to increase its price to the point of surpassing Bitcoin Cash, displacing it from fourth place in the ranking of most important cryptocurrencies by capitalization.

According to data obtained from Stellar Expert, a Block explorer and analytics platform for Stellar Network, its growth has been especially strong during the last half of the year.

Stellar started the year 2018 with 162,847 active accounts. By mid-year —in the climax of a bearish streak — over 512k accounts had been registered. However, after that, and during the last semester of 2018, Stellar’s expansion was remarkable, exceeding 2 million active accounts.

Stellar has been exponentialy growing

These figures represent more than ten times the number of users the network had at the beginning of 2018 and five times the number of registered users registered at the start of the second half of the year.

Stellar’s official Reddit account shared the news with emotion, commenting that “It took almost four years to get from 0 to 1,000,000 accounts, and only two months to double the number” This prompted a series of responses in which users shared their impressions about what could be the causes of such extraordinary growth.

For many users, the most important causes of growth are the massive airdrop conducted on the occasion of the partnership between Stellar and the famous Blockchain.com wallet and the exponential growth of Diruna, an Indonesian project that seeks to develop a Marketplace based on Stellar technology.

The airdrop announced by the Stellar Foundation consisted of more than $20 in XLM for every user of the famous Blockchain.com wallet (formerly known as blockchain.info) and its hardware wallet. The total amount of the airdrop is $125 million, making it the most substantial airdrop token in the history of cryptocurrencies.

Likewise, the growth of the Diruna project has registered more than 1,000,000 active accounts, which makes it one of Stellar’s most important developments. Diruna is an online marketplace project that allows payments in DRN, a token that runs on Stellar’s blockchain.


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Author:  Jose Antonio Lanz
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Stellar (XML) Defies Trend, Gains 7% While Crypto Market Flounders

Stellar Lumens (XLM), the token of cross-border payment solution Stellar and the strongest competition to Ripple, has defied the flatline trend of todays crypto market and made impressive 7 percent gains. Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP) and EOS, by comparison, all have less than 1 percent gains.

The additional gains add to an overall 13 percent in upward movement that Stellar has enjoyed this week, following the shocking announcement on Tuesday of an impending 500 million XLM (approx. $125 million) airdrop facilitated by Blockchain.com.

News of the airdrop came as a surprise to the crypto community, considering the amount of assets involved and the fact that airdrops have increasingly become associated with failed ICOs. However, Stellar founder Jed McCaleb stated in the announcement that he believes airdrops are essential for creating a more inclusive digital economy and giving away Lumens for free is an indication to communities to design the services they need.

While the move has clearly increased interest and investment in the Lumens (XLM) token, it has been greeted with a mixed reception on Reddit. One user stated: This might end up qualifying as the most expensive marketing failure of all time. The overall community appears optimistic though, seeing it for its original intention – to drive adoption, not only for Stellar but cryptocurrency in general.

To qualify for a free $25 worth of XLM, users need to sign up for a Blockchain Wallet and complete Know-your-Customer (KYC) procedures, an anti-privacy regulation that many traditionalists in the crypto community are resistant to. For these reasons, some may see the airdrop as a tactic by Blockchain.com to continue attracting users in face of increasingly restrictive regulatory requirements.

At the time of print, Stellar Lumens (XLM) is trading at almost $0.28, up from $0.24 a week ago. Its market cap is $5.15 billion.


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Author: Jed McCaleb
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The Blockchain Wallet Plans a $125M Airdrop of Stellar Crypto to Drive Mainstream Adoption

Blockchain, one of the world’s biggest crypto wallets, plans to give away a vast amount of cryptocurrency in a bold move to scale the adoption of crypto to a more mainstream audience.

Blockchain and the Stellar  Development Foundation (stellar.org) will distribute $125 million worth of Stellar lumens [XLM] to Blockchain’s users. Blockchain is claiming this is the largest airdrop in the history of crypto, and potentially the largest consumer giveaway ever — and to most outside observers, it looks that way.

Critics of the move will, however, may lay the charge that it’s a cynical move akin to cheap marketing techniques. Whatever the case, most people would probably say they’d have quite liked someone to “give them a bitcoin” a few years ago… It remains to be seen, however, what effect it will actually have on the ground in regards to crypto adoption.

Accessible to anyone with a Blockchain wallet, Blockchain says that the first batch of recipients will receive their lumens, Stellar’s native digital currency, this week — for free. The Stellar network has gained a reputation for scalability, with its lumen token enabling competitively quick, low-cost worldwide transactions. It has its critics however, and not every crypto fan out there will be impressed.

In a statement, Peter Smith,  CEO at Blockchain, said:

“At Blockchain, we’re committed to putting our users first. Providing exclusive access to the next generation of cryptoassets allows new and existing users alike to test, try, trade, and transact with new, trusted cryptoassets in a safe and easy way. We’re empowering our users with private keys, which allow them to go beyond just storing their crypto to actually using them. In turn, we can help build a bigger and more engaged crypto community, and drive network effects that make the ecosystem more useful and valuable for the many rather than the few.”

Stellar is Blockchain’s first airdrop partner following the launch of the company’s Airdrops Guiding Principles framework in October 2018.

Jed McCaleb,  co-founder of Stellar Development Foundation, said, “We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens [XLM] for free is an invitation to communities to design the services they need. Our hope is to eventually have global citizens own and use lumens, in both developing and developed economies. By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their almost 30 million wallets, we will increase the network’s utility by many orders of magnitude.”

As part of the airdrop, Blockchain is also partnering with a number of organizations to further the adoption of lumens, including charity: water, Stanford d.school’s emerging tech initiative, code.org, and Network for Good who share the company’s vision for using this transformational technology to build a better future. Blockchain plans to reveal specific details of each initiative in the coming weeks.

Carissa Carter, director of Teaching and Learning at Stanford d.school, said,

“The strength of any network is derived from innovation. We are excited to join Blockchain on this airdrop to empower some of the most brilliant and creative minds to start experimenting and building on Stellar’s network.”


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Author: Mike Butcher
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The Future Stellar Lumens [XLM] $1.00 Prediction Turning Visible

In the case of businesses dedicated to facilitating payments between individuals, the choice of which blockchain to use and which fintech to hire is of vital importance for their growth. However, the relationship between crypto and fiat based fintechs has concluded with a growth in exposure of digital currencies.

When it comes to banks and firms that attempt to adopt blockchain based solutions for processing cross-border transactions or various types of payments, XRP and Stellar take the spotlight with no mercy.

The marketing strategy which Stellar follow is based on growing its partner-list so its payment transferring tech is used and utilized by a wider reach. The platform is on constant development to bring the architecture required for expansion.

By no doubt, the native token’s price [XLM] is impacted by any firm advancement or asset support that exchanges bring.

None other than the leading cryptocurrency exchange platform Coinbase is staying behind its mid-July teasing twitter post of exploring 6 assets.

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).

Two of the six coins have already welcomed the support from CB in the past weeks and knowing that its only the beginning of November, it could be a matter of weeks before the exchange delivers much awaited news for the other remaining four.

October 16th, 2018 – via their official twitter handle Coinbase launched ZRX [0x] on Coinbase.com and on the Android and IOS applications too.

Two weeks after – November 2nd, 2018 – the San Francisco based cryptocurrency exchange of Coinbase Pro has announced that it has successfully added Basic Attention Token (BAT) onto its platform.

After 1pm PT on Friday, November 2, we will begin accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro.

We will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading on the BAT/USDC order book will start.

Users may convert their USD to USDC with one click within the Pro interface as described here. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.

Please also note that BAT is not yet available at Coinbase.com or in our iOS and Android apps. We will make a separate announcement when that occur – announcement blog post

Since the event, the pair BAT/USD has experienced a stellar bullish run reaching 14.03% gain only in the last 24-hours being the highest among leading coins. This could be only the beginning for the days ahead.

Reflecting on Stellar XLM – keeping in mind that the speedy coin is the sixth largest coin by market capitalization its community support is possibly of higher scale and the exchange’s support impact will be of no doubt game-changing for any XLM HODler. Following the major drop that took place on 29th of Oct, Stellar is among the coins which had a better recovery and weekly placement including BCH and XRP.


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Author: Alex Tomzack
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Out of beta – StellarX marketplace has now launched

StellarX, the first full-featured trading app for Stellar’s universal marketplace has now launched, it has been in beta test mode over the past several months. The marketplace offers crypto, fiat tethers, commodities, bonds, and more.

The market does not hold user keys and isn’t an exchange of any kind. It essentially is a GUI for the public to access the Stellar trading environment.

We tested, and the signup process was convenient, everything worked great as far as registering, making a great first impression from the start. After verifying your email address, you are then asked to enter in your Stellar Secret Key, you will need a secret key to access the Stellar marketplace.

You can pair your secret key by three options, StellarX will create a new one for you, use an already existing one, or use a Ledger hardware device.

During testing, we decided to create a new one, we were asked to check off the box that enables Stellar airdrops (1% APR), then you are asked to choose your preferred currency. Even though trades on the StellarX marketplace use Stellar lumens (XLM) users have the options of pricing assets in whatever is most familiar with them. The options include the native XLM, USD, EUR, GBP, IDR, CNY, KRW, and mBTC. We choose USD for testing purposes.

Once complete, you are given your recovery key, which you should save right away in a safe place.

Marketplace

StellarX is a third-party client built on top of Stellar’s open marketplace. It was created and run by Interstellar, a new company formed to make building and operating on Stellar even easier. Interstellar is an independent commercial entity and not affiliated with Stellar Development Foundation.

Users can transfer funds to the exchange with lumens (XLM) and other cryptocurrencies. StellarX uses Changelly as its cross-chain exchange provider to make it easy to deposit a wide variety of crypto assets from within the account page. They convert your funds to XLM and charge 0.5% for the conversion. StellarX takes no fee.

Key features added to StellarX over the past few weeks of beta testing:

  • Ledger support
  • Direct USD deposits
  • The ability to send tokens to any Stellar or federation address
  • An improved markets view so it’s easier to tell which token is which

StellarX also added custom payment aliases, which means users can go to their profile settings and can claim yourname*stellarx.com.


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Author: CryptoNinjas
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Cryptocurrency Market Update: Siacoin Leading Monday Momentum

Markets holding steady on Monday; Siacoin, Stellar, ReddCoin and 0x performing well.
Cryptocurrencies are green this Monday morning on the Asian markets. The weekend recovery has held firm and the majority of cryptos are still rising. Market capitalization has remained above $225 billion and is still heading upwards at the time of writing.

Bitcoin has not moved much at all over the past couple of days and is hovering around the $6,700 mark. The short term outlook for BTC is bullish however its market dominance has fallen back to 51.2%. Ethereum is still recovering and has made a further 2.5% on the day to trade at $245. ETH is still at its lowest level for a year though so further gains are likely.

Altcoins are recovering well, largely at the expense of Bitcoin for a change. According to Coinmarketcap the top ten is all in the green aside from XRP which has pulled back a little from its huge pump over the past few days. The top performer in this section at the moment is Stellar which has made 8% on the day to $0.279. Cardano has also made a little back with 5.5% on the day but ADA is still very low. The rest are pretty static at the moment with marginal gains from yesterday. The top twenty paints a similar picture with Nem and Dogecoin both making 5% on the day, Neo up 3.5% and the rest just about even. Tezos is the only altcoin in the red dropping back one percent.

Today’s top performer in the top one hundred is Siacoin jumping 21% in 24 hours. Over the past month SC has made a solid 30%. Other altcoins performing well at the moment include ReddCoin, 0x and Bytecoin all trading over 8% higher right now along with Stellar. At the red end of the top one hundred is Emercoin and Aurora falling back 6-7 percent on the day.

Total crypto market capitalization has climbed almost a percent on the day and is now just over $226 billion. Since last Monday markets have regained over 10% and over $20 billion. They are also up 7.5% since this time last month and there is hope that the bottom is in and a recovery can now begin. Bitcoin’s market dominance has slid back largely as a result of XRP’s surge on Friday which saw it surpass Ethereum’s market share, ETH has since regained second spot.


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Author: MARTIN YOUNG 
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Stellar Price: XLM Cryptocurrency Ready to Resume Rally

The Stellar price has been rising steadily over the last two days. On Friday, Sept. 21, it is trading at 0.2514, adding 8.60% to its value. This rally is based on both tech signals and the overall market trends, says Dmitriy Gurkovskiy, chief analyst at RoboForex.

On H3, Stellar is rising after the MACD convergence and the descending channel resistance breakout. The local target is at the long term channel resistance, i.e. 0.2750. The support is now the ex-resistance, which was previously broken out. The rally is also supported by the Stochastic forming the golden cross and the MACD moving into the positive territory.

On H1, the rally has stopped near the projection channel resistance, which, with the Stochastic moving into the oversold territory, may signal a pullback to the support at 0.2300.

There has not been much news for Stellar recently, but still, there’s been some. For instance, OKCoin has added 5 new instruments to its portfolio, which includes Stellar. This may boost the interest towards the crypto, as it’s now available for trading.

Previously, Stellar obtained the Shariyah Review Bureau (SRB) certificate, as the authority licensed by the Bahrain Central Bank allowed Stellar to establish presence in the country once the recommendations are fulfilled. The SRB was especially interested in the crypto itself, while the authority is absolutely fine with the blockchain itself.

Conquering the Gulf of Persia was a very daring goal, but it looks like nothing is impossible for Stellar. As the management says, the Shariah certificate will help look at the platform and its technologies at another angle. Meanwhile, what Stellar is interested in is overseas payments and asset digitization. As the Islamic financial market is huge and Bahrain is striving to become its center, it looks like Stellar is going the right way.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.


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Author: Timofey Zuev
Image Credit: Image from Shutterstock

Interstellar Arrives: Visa, Citi-Backed Chain Acquired By Stellar Startup

A long-rumored acquisition that finds two of the crypto industry’s leading entrepreneurs teaming to back the world’s sixth-largest blockchain has been confirmed.

Announced Monday, Chain, which raised more than $40 million from financial institutions including Visa and Nasdaq, in the process helping define the narrative for business interest in the technology through its partnerships and stage appearances, has been acquired in an undisclosed deal by Lightyear.io, a startup building on the Stellar protocol.

Closed officially September 5, the deal will find both brands combining to form a new entity called Interstellar to be helmed by former RRE Ventures partner and Chain CEO Adam Ludwin, who will serve as Interstellar’s CEO, and Jed McCaleb, the creator of the XRP and Stellar protocols, who will be acting CTO.

The combined company will retain “100 percent” of Chain’s employees, according to Ludwin, including co-founder Devon Gundry, who will remain on as chief product officer. All told, about 60 employees are now employed by Interstellar, Ludwin said.

While terms of the deal were not disclosed, Ludwin affirmed in interview that shareholders were bought out and that it was “a good deal for investors.” Early estimates had pegged the deal as valued at nearly $200 million, which if true, would make it one of the year’s largest.

However, while interest will likely remain high on the deal’s lingering details, Ludwin and McCaleb were keen in interviews and statements to place their emphasis on the future.

In fact, Ludwin went so far as to suggest that the acquisition by Lightyear shouldn’t be viewed as a change in direction, even though Chain’s work focused largely on private blockchains.

Ludwin told CoinDesk:

“If you look at our work with Visa, Citi, in every case, we made huge progress, but we would also find ourselves at an impasse when it was the partners who had to instantiate a blockchain. We needed a chain that anyone could access.”

In Ludwin’s words, Chain got “Stellar envy,” when it realized the open-source project was succeeding on its goal of creating a platform that could excel at asset issuance, albeit largely with startups.

At the time, McCaleb, Ludwin said, encountered a reciprocal problem. Created in 2014 and managed by the non-profit Stellar Development Foundation, the protocol’s coders were looking for a link to institutions that could help them commercialize their work.

That said, also notable is that Ludwin said Interstellar does not intend to play an active role in the market for the Stellar cryptocurrency, XLM, saying that Interstellar is a “software” play.

“It’s about the platform layer to make the network as powerful and useful as possible for those organizations that want to leverage stellar,” he continued.

A long courtship

Still, for those involved, today’s represents the conclusion of a process that began as far back as early 2018, when McCaleb first approached Ludwin for a meeting.

Ludwin said that while the two have been acquainted since 2014, they “didn’t know each other super well” prior to discussing how they might solve mutual problems.

In this way, Ludwin said that early meetings were mostly about establishing relations.

“I have a certain public reputation, he has a certain public reputation. As usual, what you think about someone based on their public persona and who they actually are are drastically different, and we decided that after four to five weeks, let’s do this together,” Ludwin said.

At the time, details about a potential sale began to emerge, with CoinDesk first learning that Chain was in discussions to be acquired by a company affiliated with Stellar in May (though details remained unclear as to the mechanics and entities involved in the deal).

Ludwin confirmed that the two companies examined multiple ways to structure the deal, which added to the length of the acquisition talks, as did efforts to retain existing employees. He declined to indicate if the liquidation of any cryptocurrencies was used to facilitate the acquisition.

Not another Ripple

Elsewhere, Ludwin sought to distance Interstellar from comparisons to one McCaleb’s early efforts, San Francisco-based Ripple, a company for which McCaleb served as founder and CTO before the relationship devolved into high-profile legal battles.

For one, Ludwin said that Interstellar would seek to work with the Stellar Development Foundation to grow the software in concert with other for-profit startups.

“Ripple is focused on international B2B networks, being crypto Swift for banks. Stellar has increasingly become the platform of choice for issuing tokens of all kinds,” he said.

Still, like Ripple, Ludwin said the new company will continue to work to bring open-source software to the firms with which Chain already had established projects.

Interstellar, he said, will continue to use its cloud blockchain service Sequence, introduced last October, and will also make use of the tech behind its Chain Protocol, a suite of tools designed to enable private blockchain networks, launched in 2016.

As such, he said the products will be used alongside software from Stellar’s non-profit arm, enabling the company to work with both private and public networks.

“What you’re going to see from Interstellar is a convergence of the two. Where it makes sense to have assets in a private environment, we’ll use Chain’s products, when it makes sense for these assets to be transferred over a network, we’ll use stellar,” he said, adding:

“You don’t think I’m on a public network or I’m on a private network, I’m on my computer, doing work.”

Third time’s a charm

In interview, Ludwin also addressed his journey as an entrepreneur working closely with blockchain and cryptocurrencies, noting that in many ways this could be viewed as a kind of third version of a vision he began pursuing in 2014.

At launch, Chain was focused on providing products for bitcoin developers, emerging as a well-financed competitor to early Silicon Valley startups such as Gem and Coinbase, then both pursuing a model in which they sought to court coders.

Chain would later raise $30 million from major financial institutions in 2015 in a repositioning that found the company seeking to become the preferred partner for businesses that wanted to leverage blockchain to leverage the technology to create new products.

Still, Ludwin said the goal at all times as been the pursuit of technology that would enable a platform for the creation of new assets, ones that, like bitcoins on the bitcoin blockchain, would be defined by cryptography and peer-to-peer networking.

To that end, Ludwin suggested he’s merely been more aggressive in pursuit of this vision, willing to ride the twists and turns of one of the tech industry’s fastest-moving sectors.

Ludwin concluded:

“Have we experimented with approaches? Heck yeah, but if you’re in this industry and you haven’t, you’re not likely to get it right on the first stab.”


Source
Author: Pete Rizzo
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‘World Wire’: IBM Launches Stellar-Based Blockchain Payments Platform

Computing giant IBM has launched a blockchain-based financial solution that it says has the potential to completely upend the existing status quo in global payments and remittances.

The new solution called ‘IBM Blockchain World Wire‘ combines the Stellar blockchain with digital assets to make instant money transfers possible of a guaranteed value possible.

In July, CCN reported that IBM backed a dollar-pegged stablecoin issued by Stronghold on the Stellar network. In the same month, IBM announced that it was involved in an environmentally friendly crypto project also built on Stellar.

The new Stellar-based platform describes itself as a “financial rail that can simultaneously clear and settle cross-border payments in near real-time.” According to IBM, World Wire integrates readily with any existing payment system and it supports payments of any size, to any destination, in any asset type within a high-security environment.

Describing World Wire’s potential utility, information from IBM says in part:

“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.”

How it Works

Under the World Wire framework, the transacting financial institutions can use a digital asset of their choice, be it central bank digital currency, crypto or stablecoin as a bridge between two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions for the transaction to be confirmed.

Using a connection to the World Wire API, institutions can use their existing payment systems to seamlessly convert their fiat currencies into the desired digital asset to be traded. The platform then simultaneously converts the digital asset into the second fiat currency (for the receiver), which completes the transaction almost instantaneously.

All transactions are recorded on the Stellar blockchain for security and clearing purposes, and this also helps with regulatory compliance because there is effectively a permanent record of every transaction that takes place using World Wire.

According to IBM, the benefits of the new solution include faster payment processing, simultaneous clearing and settlement, reduced time to dispute resolution and reconciliation and substantially lower clearing costs.

World Wire also reportedly eliminates the presence of multiple parties in a single transaction and it vastly reduces the capital requirements for cross-border transactions. In addition, IBM says that World Wire enhanced end-to-end transparency by using one exchange fee between all currencies, and it potentially reduces the existing time and cost profile of connecting with new markets and revenue flows.

Apart from being the latest of IBM’s well-documented forays into blockchain technology and cryptocurrency, the launch of IBM Blockchain World Wire also underlines the growing influence of Stellar which recently hit a milestone of 1,000,000 accounts.


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Author: David Hundeyin
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Tempo Money Transfer Chooses Stellar Over Ripple: Calls It A “Natural Fit”

In the world of cryptos and blockchain technologies, business options are as extensive as people’s needs.

Stellar: The blockchain chosen by Tempo to provide better quality services
In the case of businesses dedicated to facilitating payments between individuals, the choice of which blockchain to use and which fintech to hire is of vital importance for their growth. However, the symbolic relationship between crypto-based and fiat-based fintechs has resulted in greater public exposure to the world of crypto-currencies and blockchain technologies.

In the case of blockchains specialized in providing solutions to banks and payment providers to process cross-border transactions, 2 are the blockchains that currently dominate the sphere: Stellar and Ripple.

Stellar and Ripple are two developments that seek to offer solutions to the same problem but from 2 almost diametrically opposed perspectives. Stellar prefers decentralization while Ripple prefers more centralized protocols.

Tempo: Stellar is a Natural Fit

In an interview for the Blockchain Podcast #66 of Finance Magnates Anthony Barker, Chief Technology Officer [CTO] of Paris-based international money transfer firm Tempo, commented on the benefits of using blockchains for the financial industry and the reasons why this company’s team chose Stellar over Ripple.

For Mr. Barker, Stellar’s philosophy seems to be more in line with the company’s standards. Its open design makes it a “natural fit” for the company.

“Stellar was sort of a natural fit for us … My gut reaction was that [Ripple] is not so good for community building … [It’s] much more like a Visa/Mastercard… I have a strong belief that open systems win in the long run.”

Cryptos: Fiat 2.0
He says that the possibility of developing a Token under the Stellar blockchain allowed Tempo to create a fast, reliable, but above all secure payment solution at the institutional level.

“We worked with Jed McCaleb and his developers, and we added compliance, so it’s integrated into Stellar as a standard 2nd-layer protocol … so we know how to send first name, last name, and date of birth across.

They added that really quickly simply because they’re really focused on this global remittance use case,”

For Mr. Barker, cryptos represent an advantage over traditional fiat-based systems as they allow payments to be made almost instantaneously regardless of the characteristics of the transaction. A $1 remittance can be reconciled as quickly and efficiently as a $1,000,000,000 remittance through the use of cryptocurrency.

“When you go to someone like a Western Union, they’ll have some money sitting in the other country, and they’ll do a payout from their account in that country to make it faster. So you have this problem of using money using the SWIFT settlement system, and it’s really expensive, cumbersome, and slow …

That’s why we migrated to blockchain … It’s really expensive, it’s a nightmare[with correspondent banks]; money gets locked up, and there’s no idea where it is or where it’s been blocked.”

Source
Author: Jose Antonio Lanz
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