The company Shift Markets announced that it signed a partnership with Lightyear so as to support the integration of the Stellar technology in the cryptocurrency market. At the moment, Shift provides services to six different cryptocurrency exchanges on a global basis. The latest partnership will help enhancing the adoption of Stellar Lumens (XLM).
This is a very important partnership for both companies due to the fact that exchanges will now be able to list Lumens on different exchanges.
Ian McAfee, Shift’s CEO and Founder, explained about the deal:
“This is an exciting partnership for us as many of our exchange clients would like to offer Lumens trading on their exchange. Their commitment to provide low-cost financial technologies in developing nations makes them a good fit for our market. We aim to increase Lumen liquidity and usage for both major and exotic fits.”
It is important to mention that Shift Markets offers a market platform to start a cryptocurrency exchange or brokerage. Additionally, it provides a singular point of entry to access many regions where virtual currencies are not yet adopted. That means that XLM will now be able to be traded against different fiat currencies from all over the world.
Until now, users had to purchase a specific cryptocurrency such as BTC or ETH and send it to a virtual currency exchange to trade it for XLM. Of course, this is a very big problem because it does not help companies and individuals to adopt Lumens on a larger scale. With the latest partnership, the Stellar network will keep growing.
Paul Arnautoff, Director of Sales and Partnerships at Lightyear.io, said that his company is very excited about partnering with Shift and its intention to help expand the Stellar network. Furthermore, he explained that with this agreement, the network will have more liquidity.
“With new on-ramps and off-ramps for fiat to virtual currency, the Stellar network continues to expand its mission of financial inclusion and reducing friction in cross border payments,”
Back in June, the cryptocurrency and network Tron (TRX), partnered with Shift Markets in order to bring TRX trading to other markets from all over the world.
At the moment of writing, Stellar is the 6th most important cryptocurrency with $4.19 billion dollars market capitalization. Each XLM can be bought for $0.22 USD.