IBM confirms adoption of Stellar [XLM] on the rise – how will it affect the coin?
IBM, one of the top notch American tech companies, confirmed the increased adoption of Stellar [XLM] to excite crypto world. In a recent interview with the Fortune Magazine, the Senior Vice President of IBM’s Global Industries, Bridget van Kralingen affirmed it. According to a report by BCFocus, Stellar [XLM] has experienced another development by joining the arsenal of KuCoin.
The interview emanated the confirmation news from the IBM Vice President that “a couple of the largest banks” are adopting Stellar [XLM]. The crypto coin is adopted by these banking institutions in the financial exchange corridors (FX). However, the identifications of the two banks have not yet been revealed.
The confirmation news coming from the Vice- President of IBM, herself along with banks leveraging Stellar protocol gives an impetus to the coin. The Stellar protocol also facilitates financial settlements at cross border level which serves as a valid instance of practical cases. These attributes shed light on the potential of its blockchain technology and the positive outcome that is associated with the network.
During the interview, she stated, ” FX going across low traded volume corridor” between certain nations. She mentioned the nations having FX corridors which are “New Zealand, Australia, South East Asian islands and UK.” As per the words of Bridget, the FX corridors are “up and running.” She also gave a confirmation by specifically mentioning that the banks “in FX corridor” are using Stellar’s Lumens for making payments “by pegged to currencies,” however, “its not free flow.”
Stellar [XLM] hits the crypto headlines back to back as this current news aligns with two other significant events. Firstly, Stellar enters a partnership with Blockdaemon, an established enterprise dealing with Node Deployment and Management Service for applying blockchain.
Secondly, a recent announcement is made about Stellar’s association with Dala Foundation [Dala], a significant Emerging markets with decentralised Financial System. The future plan of Dala involves Stellar application in a surrounding of multiple blockchain technology. This results in an instant and low cost payment for the consumers of the market. These continuous and consecutive optimistic results are reasons to elate the crypto enthusiasts supporting Stellar [XLM].
A great new addition to the @StellarOrg ecosystem! The @GetWala and @DalaFoundation teams are currently active in #Uganda and #SouthAfrica. Their mission is zero fee financial services for the masses ? https://t.co/y2lNmhtWoO
— Lisa Nestor (@nestorious828) July 20, 2018
Affect of the developments on Stellar [XLM]
The summer of 2018 has also witnessed the most awaited launch of StellarX [SDEX]. Hence, crypto community in the world is looking forward to more of such developments in the remaining third and fourth quarter of the year. Currently, in the CoinMarketCap, the price valuation of Stellar is $ 0.27 with 24 hours trading volume marked at $140,452,000. However, with these optimistic developments and new partnership formation of Stellar, no wonder they would prove to be boastful for the Stellar [XLM] price in future.
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