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Stellar (XLM) outplays Ripple in the fight for the global adoption

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Stellar Ripple

Stellar’s week has been spectacular. The Tempo partnership announcement prompted a rise in its price of thirty percent at a time in which the general market is still going down (even if Bitcoin has had a good couple of days).

Stellar is making all the right moves to place XLM in a privileged position within the cryptocurrency world.

The Tempo partnership

Stellar’s XLM and Ripple’s XRP are two coins (and organizations) competing to conquer the same market (the international transfer market, which is worth trillions each year and keeps growing). To a lesser extent (at least for now) Litecoin is also entering the global banking industry.

The only way in which either organization and crypto-coin can make some headway into the global financial services industry is by securing strategic partnerships with some key players at the start and, ideally, with everybody in the long-term. 

Ripple had the advantage over Stellar with partners as Banco Santander, SBI Holdings or BBVA. But it seems that Stellar did them one better by partnering up with the French remittance service Tempo, which is huge in Europe and Latin America (not very well known in the USA, but still very relevant)

Tempo will use XLM as an intermediary currency to do international transference quickly and cheaply, and they expect this will revolutionize the industry at the global level. Tempo has chosen to use Stellar’s network and currency to achieve this. The news has already boosted XLM’s price, and the chances are that it will surge soon as use within Tempo’s environment increases the coin’s demand and usefulness.

While Ripple’s technology is superior to Stellar’s there’s one feature in this new partnership that can make all the difference: Ripple’s partners use the Ripplenet ledger to settle payments, but they don’t need (and for the most part it seems they don’t choose either) to use XRP as a mediating currency to settle payments, only for  transfer fees, which are ridiculously low anyway. 

Tempo, on the contrary, will be using Stellar’s XLM as a bridge between the origin and the target fiat currency. That will translate into increased transaction volume and demand driven by a single partner, a feat that still escapes Ripple.

Stellar is declared Muslim-friendly

In the Muslim world banks and finances work differently because the Prophet had a few things to say about money, lending, and related issues. 

So financial products and technology that seem commonplace or inoffensive in the West are not always so readily accepted in Islamic countries. Well, that won’t be a problem for Stellar nor XLM. Islamic scholars have certified this cryptocurrency to be compliant with Sharia law and have granted a certification.

This will grant Stellar access to about one-third of the world.

Prospective listing at Coinbase

Another piece of big news for Stellar was Coinbase’s announcement that it is considering to include it in its platform. The US-based exchange is every cryptocurrency wet dream, and it seems it could come true for XLM. Mind you, Coinbase’s announcement was exceedingly ambiguous, but at least it signals at a possibility, and the market has reacted enthusiastically.

IBM launches Stronghold USD on the Stellar network

IBM is backing Stellar and a new project called Stronghold USD which aims to produce a dollar-backed cryptocurrency. IBM chose to test the launch of a token of its own using the Stellar network and technology, and Stronghold USD will also use XLM to transact.

It’s anybody’s guess how this project will fare. But even if it doesn’t work, it shows the faith and commitment IBM has on Stellar as a blockchain, as an organization, and as a currency and that will inspire confidence to other big players and potential partners and investors.

Jesse Lund, IBM’s vice president of the global blockchain, had this to say about the new project,

“IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.”

These are all meaningful milestones for the Stellar blockchain. Some of them are things that Ripple would like to do but hasn’t. So yes, Ripple’s tech is superior as is its expertise, and experience dealing with financial institutions. And yet, Stellar Lumens seems to be getting ahead.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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