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Stellar Lumens’ XLM reaches Canadian exchange NDAX

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Stellar

The new exchange supporting Stellar (XLM), National Digital Asset Exchange Inc. (NDAX) is a Canadian cryptocurrency exchange based in the province of Alberta. It was designed to serve both retail and institutional clients with the highest quality, security, and compliance with legal standards. Unlike most of the world’s crypto trade platforms, NDAX is fully integrated into the domestic Canadian banking system which allows for more fluidity between the crypto and the traditional financial systems.

Legality is a core issue for NDAX as it’s registered as a Money Service Business in Canada and it practices a philosophy to engage with regulators and traditional financial institutions in a way that can set a new standard in the Canadian cryptoverse. That emphasis on compliance allows NDAX to secure banking services provided by domestic institutions, and to keep the client’s funds in the domestic economic system, instead of sending them offshore.

Earlier yesterday, the Canadian platform announced it’s introducing Stellar Lumens native asset (called XLM) into its trading platform paired against the Canadian Dollar. Also, trading in this pair will remain free until January 31st, 2019.

It’s not typical for assets like XLM to be listed paired against the local fiat currency. Most commonly, exchange platforms around the world, do not allow for buying XLM directly but they pair it against Bitcoin. In other words: if you want to get some XLM tokens, you must first buy some Bitcoin and then you can use the trading platform to exchange them for XLM.

NDAX is not even going to offer an XLM/BTC pairing in the beginning, but it informed in the announcement it will be introduced as soon as a sufficiently liquid trading market develops. No time frame was mentioned for this.

Stellar Lumens is a third generation blockchain project that aims to be a full-fledged platform for decentralized applications and smart contracts based on its native token, XLM. It’s found lots of use cases in the traditional financial world. In this regard, it’s been following on Ripple’s steps and securing strategic alliances with some of the most important banks and remittance services in the world to make the settlement of international transactions as painless, safe, quick and cheap as humanly possible.

One of Stellar Lumens’ critical partners is none other than IBM. Big Blue has chosen this blockchain project as its only partner in the cryptosphere. That means that all the research and project development IBM is doing to explore the uses of blockchain technology will be carried out in association with Stellar Lumens and using Stellar’s technology. If you remember what IBM and Microsoft’s partnership did for Bill Gates in the 80’s and beyond, you’ll understand that this is a huge advantage for Stellar.

The NDAX announcement is great news for a project that’s been reporting lots of good news all year long, and that has managed to keep growing despite the bearish conditions in the market.

Stellar (XLM) is currently trading at $0.1562 in red numbers (6.89%). It’s capitalized at roughly 3 billion USD, which makes it the fifth cryptocurrency by market cap.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation

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Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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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.

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Mission Statement

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