Top 5 Stellar Blockchain Partnerships that Can Send XLM to the Moon
The Stellar Lumens (XLM) is the sixth biggest coin on the market right now after passing Litecoin and achieving a market cap of $5.4 billion. XLM is slowly but steadily sneaking up on XRP which was considered as the ‘official’ banking cryptocurrency. (For clarity XRP is not ripple. Ripple is not a coin but actually a network of cryptocurrency which has its own coin and this coin is called XRP). Both of these coins were started by the same man, Jed McCaleb, but which coin will emerge the winner?
The XLM has managed to gather a series of powerful partnerships which has improved its ranks and made it a serious contender in the market. It is considered as a lighter, cheaper alternative to Ethereum and some think that the Stellar protocol is one of the most decentralized in the cryptocurrency ecosystem in terms of functionality.
The Stellar Network
Lumens are the native assets of the Stellar platform. For big banks or clients to use the network and transact any kind of asset, they need to use Lumens. This is the real functional value of Lumens. As long as transactions are occurring, there will be a need for lumens. Unlike Ripple's XRP which can't be used for anything rather than as a speculative instrument. The reason is that Ripple's main clients are big banks whom only pay Ripple large fees to use the network. They don't require any XRP to transact in ripple's network.
Both XRP and XLM are aimed at the trillion dollar payments industry and designed to facilitate cross-border payments that bridge crypto and fiat currencies. Both offer fast, affordable and reliable transactions.
Some of the known biggest partnerships that Stellar has made include:
- The International Business Machines Corporation (IBM)
IBM is an American multinational technology company based in New York, United States and is now a world leader in Cloud computing.
This was actually the first company to invest in Stellar. Stripe essentially gets 2 billion Lumen, but has agreed in advance that any profits from their sale will go right to the Stellar.
Stripe dropped Bitcoin in April due to processing charges and delays leaving an open door for a replacement and Lumen hopes to live up to its potential.
- SHIFT Markets and Lightyear
SHIFT partners with 60 cryptocurrency exchanges round the world and Lumen gets exposure to a global audience.
Deloitte is one of the world’s biggest professional service providers to sign with Stellar Lumens to provide affordable and rapid payment systems through the Deloitte Digital Bank.
- Wanxiang Group
This Chinese giant has interests in the automotive sector, real estate and financial services.