Stellar Lumens Decentralized Exchange (SDEX) & USD Anchor Network Progress

The XLM stronghold by Stellar Lumens plans on launching the very first USD anchor in the system. The news was revealed by the members who are of the Reddit community; this has all come as an exciting development for the individuals who support the cryptocurrency. The Stronghold exchange has used stellar networks, the network has been designed to be intrinsic in the decentralized mechanism and also protocol.

Additionally, the company has also hinted at the news that was just uncovered by the Redditors; as a result, we are able to see a USD anchor on the Stellar term. Stellar has been put among the seven cryptocurrencies that are expected to be legalized in Thailand; this is per the new regulations that have been set straight from the Thai Sec. And the other recent news from the Lumens camp is that the SDF (Stellar Development Foundation) is just about ready to launch the SDEX – Stellar Decentralized Exchange – trading platform as the final touches be put together before officially announcing its grand opening.

A Little More To Know

So it is said that actual USD will be withdrawn and also easy deposited from the anchor, unlike the other Tether’s stable coin swap mechanism that we have been accustomed to. And from here it is able to get digitized and also exchanged for any of the current digital assets that are present on the Stellar protocol decentralized-exchange, the DEX platform.

Furthermore, the system that they have put in place which is the USD anchor, will facilitate for a swift exchange to take place. The good news about all this is that it is a much cheaper option than what you can find in the market. It is all thanks to the cheap transactions costs you will explore on the network. The 1XLM is able to power 100,000 transactions at the moment approximately.

A Little About Stronghold

The Stronghold platform is actually a crypto coin trading platform that has been able to have over 200,000 users on it. The exchanges platform on Stronghold is a supporter of the newly developed Stellar protocol, and they have been involved with the founders of the company since the year 2014. In the year 2014, the company actually launched an anchor, but this got closed very soon after as there was a general lack of interest in the market.

But with their expertise and knowledge of the market is truly paying off after all these years. Especially so, as they are the very first company to launch a fiat anchor on their network once again.

Stellar Has A Game Changer

At times it can prove to be difficult to either deposit or withdraw funds from the network, this is in both the decentralized and also centralized exchanges; thus this leads to substantial transaction fees. But with the development of Coinbases’ easy to use interface and even their straightforward mechanism in depositing funds, it is the reason behind its dominance in the crypto world. But still, the common factor that exists in these networks is the high transaction fees.

But with the Stellar platform, having the seventh largest digital token on the crypto market and also having been designed with a direct fiat that has an on and off ramp, this will definitely be a game changer we need to all look out for.

All this will also be very handy at the time they are disassociating the company’s native asset XLM and the Stellar network for the current bitcoin volatility. But there is still uncertainty on whether this news will be able to attract new speculators to the Stronghold DEX.

But with its own foundation of the SDEX that will be launched in the month of July might actually just do the trick. And this is not all as it will get a makeover of a professional grade traders platform that will be a rival with the Binance in both the functionality and the UI.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Lebanon’s Fiat Currency, the Lira, Drops 50% of Its Value in 10 Days Due to Hyperinflation

Lebanon's financial crisis is only deepening with each passing day, as the country is engulfed in hyperinflation. An unofficial report suggested that the value of...

Bitcoin-based Startup Zap Opens Strike for Public Beta And Plans to Release Visa Rewards Card

Jack Mallers, Zap founder, revealed on Thursday that Zap’s Strike product, which enables individuals to receive Bitcoin in US dollar form through direct bank...

Techemy Capital Plans To Launch Compound (COMP) Investment Portfolio for Yield Farmers

Techemy Capital, a New Zealand based digital asset investment firm and fund management, announced the planned launch of new DeFi strategic investment products next...

Bitcoin Retail Investors will Eat Up All the New Supply Starting 2028: Report

The latest study titled, “Retail Investors Steady in Physical Bitcoin Snatch-Up” talks about how the remaining 10% of bitcoin supply will take 120 years...

Russian Court Denies Appeal for $900K Compensation for Stolen Bitcoin; It's Not Property

A victim of a kidnapping in Russia who lost $90,000 worth of Russian Rubles and 99.7 in stolen Bitcoin, appealed to the court almost...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today