Stellar Lumens (XLM) have really stood strong in the crypto space over the years. The blockchain project has shown great commitment towards enhancing the crypto space and revolutionizing the finance industry.
Stellar Lumens is currently the sixth largest digital currency in the world by market cap. The adoption of the digital currency and its underlying technology is continuously on the increase. The digital currency is currently trading in the green after having a pretty rough week.
Recently, Stellar Lumens successfully secured a strategic partnership with Hyperion to list Stellar’s cryptos on the platform. Stellar Lumens sees more adoption as it is being actively used as the preferred choice of network to develop platforms as a result of its reliability, speed, and cost-effectiveness.
Prime Trust Adds Support for Stellar Lumens
Over the past months, there has been an influx of developments leveraging Stellar. Now, Prime Trust is adding support for Stellar tokens. Prime Trust is a startup that is based in the U.S. The startup offers custodian services.
Prime Trust is the first and only custodian service provider to securely custody all ERC20 tokens. Now the platform will securely custody all Stellar tokens. According to Kevin Lehtiniitty – the Chief Product Officer of Prime Trust – the firm will be adding full support for Stellar.
Lehtiniitty said: “Stellar is becoming the most popular blockchain for tokenizing financial asset and securities. Because of its enormous speed and unique support for trading and issuing tokens, adding support for Stellar tokens is a natural extension of the firm’s crypto business. Adding that they are excited to add Stellar to their custody capabilities.”
PixelAlpha Set to Use Stellar as Its Settlement Layer
According to a recent announcement, PixelAlpha wants to use Stellar as the payment platform for its decentralized digital currency derivatives exchange. The founder of PixelAlpha, Alex Otsu, shared a post on Medium.
In the post, Otsu said: “There are lots of features that make their Distributed Ledger Technology uniquely fit for operating a derivatives platform. However, reliability, simplicity, and speed were major differentiators. He said Stellar will enable them to carry out transactions in seconds, instead of the minutes that other blockchains take.”
Cygnus Also Wants to Adopt Stellar
Additionally, Cygnus is another platform that wants to adopt Stellar. Cygnus is a blockchain startup that is creating a platform which will allow conventional merchants to accept XLM. The platform wants to use the technology of Stellar to achieve this. It also plans to add fiat currency and native trust lines in the future.
Stellar has been very attractive to many developers and firms lately. This is because of the unique features of the platform. Stellar is highly secure, it is fast, and it has very low transaction fees. Recently, BitGo added Stellar Lumens to its platform. BitGo is a digital currency custody, and the listing of Stellar Lumens on the platform will further increase the adoption of the digital currency.
Stellar (XLM) Price Today – XLM / USD
At the time of writing, XLM is trading at $0.2180 after an increase of about one percent over the past twenty-four hours. The current market cap of the digital currency is $4.12 billion and its trading volume over the past twenty-four hours is $40.43 million.