Stellar is $XLM
a blockchain-based payment network designed to make international money transfers fast, cheap, and accessible. It was founded in 2014 by Jed McCaleb (co-founder of Ripple) and Joyce Kim, aiming to connect banks, payment systems, and people across the globe.
Its native token, Lumens (XLM), is used to facilitate transactions and maintain network efficiency.
Feature Description
đ¸ Fast Transactions ~5 seconds for cross-border payments
đ§ž Low Fees Fractions of a cent per transaction (0.00001 XLM)
đ Multi-Currency Support Can represent and transfer USD, EUR, BTC, etc., as digital tokens
đ Built-in Decentralized Exchange (DEX) Users can trade assets on-chain without needing a separate platform
1. Cross-border payments: Especially for remittances to and from developing countries.
2. Tokenizing fiat currencies: Banks and fintechs can issue digital versions of fiat (like digital dollars or euros).
3. Micropayments: Low fees make it ideal for small transactions
4. Stablecoin support: Major stablecoins like USDC are issued on Stellar.
Transaction Bridge: XLM acts as an intermediary currency for converting one asset to another.
Anti-spam: A small amount of XLM is required to create accounts and make transactions (prevents abuse)
Liquidity: Helps facilitate quick currency swaps on the Stellar DEX.
â Financial Inclusion: Stellarâs mission is to bring banking services to the unbanked population â especially in Africa, Asia, and Latin America.
â Partnered with Big Names: Including IBM, MoneyGram, Circle (USDC), and Flutterwave.
â Regulatory Friendly: Designed to work alongside banks and regulators, making it ideal for CBDCs and financial institutions.
XLM is seen as a strong player in the payments and fintech sector of crypto. While itâs not a meme coin or high-risk moonshot, itâs a solid infrastructure project with a clear mission and proven tech.
In 2021, MoneyGram chose Stellar to power its crypto-to-cash and cash-to-crypto remittance network â making it one of the first bridges between stablecoins and local currency cash in over 300,000 locations.