🔍
XLM (Stellar Lumens) - What makes Stellar unique? Moneygram partnership and much more… - YouTube
Channel: unknown
[0]
stellar is one of the fastest rising
[1]
digital payments networks on the planet
[3]
right now any financial system around
[5]
the globe can register on stellar and
[7]
use it as an intermediary to transmit
[9]
currency in addition banks and financial
[12]
institutions can use the platform for
[14]
digital storage and digital money
[15]
transfer
[16]
stellar's cryptocurrency is lumens under
[19]
the ticket xlm which has now garnered
[21]
recognition from iso 2022 as a compliant
[24]
digital token in this video we are going
[27]
to be looking at what makes stellar
[28]
lumens unique and its various strategic
[30]
partnerships if you enjoy watching the
[32]
video make sure to leave a thumbs up and
[34]
subscribe to keep up with all things
[36]
crypto on to the video stellar was
[39]
created by crypto enthusiasts jed
[40]
mccaleb and joyce kim in 2014 it grew
[43]
exponentially and has since amassed more
[45]
than 3 million user accounts the
[47]
founders have created a stellar
[49]
development foundation to manage the
[51]
token xlm steller has a digital ledger
[54]
of its own where it manages data of all
[56]
accounts and transactions lumens are
[58]
used as the bridge currency to
[60]
facilitate inter-currency transactions
[62]
it takes roughly five seconds to process
[64]
a transaction on stellar
[67]
there are a number of factors that set
[68]
lumens apart from another bridge
[70]
cryptocurrency for starters stellar
[73]
covers a wide range of currency unlike
[75]
any other popular financial networks
[77]
often restrict themselves to the
[78]
currency of a few countries such as usd
[81]
gbp cad and some crypto like bitcoin and
[84]
ethereum however one can exchange any
[87]
currency on stellar from any corner of
[89]
the planet moreover its wide
[91]
applicability enhances its long-term
[93]
growth prospects
[95]
many cryptocurrencies have been created
[97]
in an attempt to replace existing
[99]
financial systems using blockchain
[101]
technology such as ripple xrp however
[104]
lumens aims to provide a helping hand to
[106]
financial institutions by providing an
[108]
integrated network that connects them
[110]
globally
[111]
its compliance with iso 2022 also
[114]
ensures that xlm will not be disrupted
[116]
by government regulations unfairly and
[119]
hence is a very stable token
[121]
since stellar is an open source network
[123]
anybody can access it and build their
[125]
own digital infrastructure companies can
[127]
make intranet storage wallets and
[129]
individuals can use them as storage
[131]
space stellar has also recently
[133]
authorized nft minting and smart
[135]
contracts through the platform
[137]
stellar is also no stranger to strategic
[139]
partnerships it has recently made
[141]
headlines by shaking hands with
[143]
moneygram a money transfer service that
[145]
deals in fiat currency
[148]
the partnership aims to bridge the gap
[150]
between cryptocurrency and fiat currency
[152]
by using stellar's blockchain technology
[154]
to convert tokens into fiat
[157]
moneygram will expand its operations
[159]
with the tech that it acquires from
[161]
stellar users can now undertake
[163]
remittances in usdc aka the usd coin
[166]
which is pegged to the us dollar
[168]
receivers can cash them out in fiat
[170]
currency thus making crypto defeat
[172]
conversion smooth and cheaper customers
[175]
of moneygram can also cash out their
[177]
holdings directly at any time the fact
[179]
that moneygram chose to partner up with
[181]
stellar lumens at a time when the crypto
[183]
market is crashing shows the caliber and
[186]
growth potential of xlm
[188]
moneygram has been in the industry of
[190]
finance for more than four decades this
[192]
partnership introduces a lot of
[194]
experienced consultants to the stellar
[196]
development foundation board which will
[198]
come in handy in future projects
[200]
moneygram is also rumored to be eyeing
[202]
digital wallets in el salvador which
[204]
legalized bitcoin a few months ago
[206]
moneygram is talking with third-party
[208]
service providers to expand to el
[210]
salvador and this partnership will help
[212]
streamline the contract
[214]
it is worth noting that moneygram was
[216]
previously in cahoots with ripple labs
[218]
which was co-founded by jed mccaleb who
[221]
left the company due to internal
[222]
conflicts moneygram ended ties with
[225]
ripple after the securities and exchange
[227]
commission launched an investigation on
[229]
the company followed by a class action
[231]
lawsuit this is the second time
[233]
moneygram is partnering with a crypto
[235]
token developed by jed mccaleb only time
[238]
will tell us the future of this
[239]
partnership
[240]
moreover stellar has also built rapport
[242]
with various other market giants its
[245]
biggest partnership is with ibm which is
[247]
developing a stablecoin pegged to xlm in
[250]
order to work on a 740 million dollar
[252]
deal with the australian government for
[254]
blockchain based defense solutions
[256]
stellar also has ties with deloitte one
[258]
of the big four to facilitate
[260]
cross-border payments at an affordable
[262]
cost through blockchain technology
[264]
stripe has been with stellar since its
[266]
inception the company was one of the
[268]
initial investors providing 3 million
[270]
dollars it now aims to incorporate
[272]
stellar into its system of payments
[274]
stripe already has 2 billion lumen or 2
[277]
percent of the total coins from its
[279]
initial investment which is now valued
[281]
at a different price however all the
[283]
profits go straight to stellar under
[285]
this partnership
[286]
stellar has also been invited to be a
[288]
part of the wan zhang group's wan cloud
[290]
a blockchain protocol that aims to
[292]
revive cryptocurrency and blockchain
[294]
technology in china if successful this
[297]
can result in major gains for the
[298]
company through a whole new market of
[300]
millions of traders investors and
[302]
customers
[303]
in conclusion stellar lumens is clearly
[306]
set to skyrocket in the future with its
[308]
strategic moves the coin has shown
[310]
excellent growth and value although it
[312]
is repressed right now because of the
[313]
general slowdown in the crypto market
[316]
nevertheless the general consensus is
[318]
quite positive about the digital token
[320]
and now it is time to hear your thoughts
[322]
on stellar lumens what do you expect the
[324]
token to be in the future to the moon
[326]
maybe let us know in the comments
[327]
section down below make sure to like and
[330]
subscribe so that you never miss out on
[331]
the latest updates on the world of
[333]
cryptocurrency
Most Recent Videos:
You can go back to the homepage right here: Homepage