Analysts expect XLM price to explode as Stellar leads the way in CBDC issuance
- Anclap, a leading Latin American digital token issuer has created a stablecoin backed by Peru’s currency on the Stellar blockchain.
- Stellar’s blockchain has four key features that make it the ideal choice for CBDC issuance.
- Spanish startup Vottun integrates intra-company cross-border payments platform onto Stellar’s blockchain.
XLM is posting gains with the rising adoption of the Stellar blockchain. Developments in the Stellar ecosystem have boosted the utility of native token XLM.
XLM prepares for rally, Stellar blockchain takes strides in stablecoin issuance
The Stellar ecosystem has several recent updates that boost the utility of native token lumens (XLM). New token launches on the Stellar blockchain, arrival of automated market makers have triggered the growth of the network.
Vottun a Spanish startup recently integrated their intra-company cross-border payments platform onto Stellar, with Stellar Development Foundation (SDF). Stellar’s association with the Spanish Development Foundation is bullish for the ecosystem’s development and native token XLM utility.
Further, leading venture firm DFS Labs recently announced a partnership with the Stellar Development Foundation. The firm is holding its first blockchain bootcamp in association with SDF.
✨It's Day One of our Blockchain Bootcamp in partnership with @StellarOrg!✨
— DFS Lab (@TheDFSLab) September 28, 2021
We're working with 9 exciting companies. Read about them here: https://t.co/saplsYXGcU@fonbnk1, @usehover, @joinstax, @honeycoinapp, @getMoneymie, @Lwshosting, @gravityID_earth,
Another exciting update is SDF’s association with the Latin American digital token issuer Anclap.
Anclap announced its stablecoin backed by the Peruvian Soles on the Stellar blockchain last weekend. The “Digital Sol” can be purchased from wallets and exchanged with the Argentine Peso and the Brazilian Real.
Through stablecoins on the Stellar blockchain, Anclap hopes to connect Latin American countries and drive the adoption of stablecoins.
Stellar network’s secure asset issuance, enhanced compliance capabilities and automatic interoperability make it an ideal choice for CBDCs like Anclap’s “Digital Sol”.
With more partnerships in the future, analysts expect native token XLM’s price to skyrocket.
Kevin Cage, cryptocurrency analyst and investor is of the opinion that XLM price has increased 29 times since the 2020 bloodbath and he is more focused on the asset for the coming months. Cage believes that XLM is ready for a breakout in 2021.
Since the 2020 Crash Measuring Wicks...$ADA has done a 170x$XLM has only done 29x
— Kevin Cage (@Kevin_Cage_) September 22, 2021
Therefore, I am more focused on $XLM for the coming months. pic.twitter.com/xKW1s0Gg75
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
