This was made clear by Interstellar CEO Mike Kennedy who said using XLM could be an option, but it wouldn’t be necessary since the transactions being made are crypto-agnostic. Lightnet doesn’t require Stellar’s native XLM token to make these transactions. In developing nations, it’s a rigged game, and Stellar can help level the playing field. Under the terms of the agreement, the Stellar Foundation will develop a payment bridge that streamlines money transfers.Īs Lightnet reminds us, the issue of money transfer is annoying to many in the United States. I outline (and perhaps oversimplify) the use case for Stellar Lumens because of its partnership with MoneyGram. The recipient would receive the Lumens and then convert them back to their native currency. Lumens) that I would send via the blockchain. dollars to purchase digital representations of those dollars (i.e. This is where the company’s token, the Lumen (XLM) comes in. I could send money to someone anywhere in the world and they would receive it in their native currency in almost real time. It’s like Venmo on a global scale which I’ll admit is exciting to think about.ħ Top Stocks to Buy On Any Dip If You Get the Chance in Q4 In the case of Stellar, it allows individuals to make cross-border exchanges of money in seconds as opposed to days and it does it for less cost. The company is taking a situation we can all understand and providing an elegant solution. I appreciate the simplicity in the use case for Stellar Lumens. Stellar Lumens Has a Clearly Defined Use Case I’m just not sure what it does for XLM as a coin. I’m more interested in the long-term narrative, and I see that as bullish for the Stellar Lumens Foundation. InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, the MoneyGram partnership is not the first announced by the Stellar Foundation. There’s no question that if you owned XLM the day before the MoneyGram announcement you’ve done quite well. You could say this is just another day at the office for cryptocurrencies, and I might agree with you. The altcoin briefly went to 42 cents before settling into its current range around 34 cents. After the announcement, XLM skyrocketed from 31 cents to 36 cents per coin.
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