- Native digital asset has been making steady gains in recent months
- More secure infrastructure attracts high-end partnerships
- Three recently-announced integrations should help further boost reputation
Blockchain network Stellar has added three new partners to its Lumens cryptocurrency platform. The announcements are further proof that the native digital asset is making steady gains in the cryptocurrency market thanks to its careful deal-making and advanced infrastructure.
Stellar’s Lumens ecosystem is considered one of the industry’s most stable, secure and transparent. This has helped attract high-end companies and international payments app developers, including IBM, Veridium and Tempo.
Global tech leader IBM has selected Stellar to collaborate on a project that aims to make exchanging fiat currency for cryptocurrency easier, particularly in emerging markets like Asia and the Pacific. The deal will open Stellar Lumens to a host of central banks that have established relationships with IBM and should help further Stellar’s global reach.
Veridium, a joint initiative between Veridium and IBM aimed at building a global marketplace where corporations can freely trade carbon offsets to help reduce emissions and preserve natural resources, has chosen Stellar Lumens as its preferred cryptocurrency and has tapped the Stellar network to manage its applications.
Growing international money transfers firm Tempo has said it will use the Stellar Lumens native wallet in all its international payments transactions. Testing has already been initiated in the Philippines, one of the world’s largest remittance markets. With this move, Stellar hopes to outcompete Ripple in this market.
These and other high-profile partnerships, including those with SatoshiPay, TillBilly and Open Garden, should continue to add value to the Stellar network and give even more legitimacy to the Stellar Lumens blockchain network.
For more information on how cryptocurrency can be used in cross-border payments, check out our crypto guides here.
