Stellar Introduces Open-Source Disbursement Platform
Stellar has launched the open-source Stellar Disbursement Platform, which aims to facilitate faster and transparent digital disbursements worldwide. The platform allows individuals and organizations to execute bulk disbursements using digital assets for various purposes. It offers seamless integration with Stellar’s global network, providing recipients with the convenience of converting digital currency to cash easily. CEO Denelle Dixon believes the platform has the potential to empower gig workers and creators, fostering a more inclusive financial future. The open-source nature of the platform reflects Stellar’s commitment to collaboration within the blockchain community.
Stellar Secures Minority Stake in MoneyGram
Stellar has become a minority investor in MoneyGram, solidifying its position in the cross-border P2P payments and money transfer services sector. As part of the investment, SDF has secured a seat on MoneyGram’s Board of Directors, allowing it to contribute to the company’s future and digital strategy. The investment also positions SDF to play a vital role in MoneyGram’s expansion of its digital business and exploration of blockchain technology. CEO Denelle Dixon believes this partnership will contribute to MoneyGram’s digital advancement and aligns with SDF’s vision of facilitating inclusive financial access.
Stellar’s XLM Token Declines
Despite recent developments, the native token of the Stellar protocol, XLM, has consistently declined over the past two weeks. Currently trading at $0.1262, the coin has experienced a 2.4% decrease in value over the past 24 hours and a 13.8% decline within the fourteen-day timeframe.
Hot Take
Stellar’s introduction of the open-source Stellar Disbursement Platform is a significant step towards enabling faster and more transparent digital disbursements worldwide. The platform’s wide range of applications and integration with Stellar’s network offer individuals and organizations a streamlined payment process. Additionally, Stellar’s minority stake in MoneyGram positions the company to contribute to the digital transformation of cross-border payments. However, the decline in XLM’s value raises concerns about the coin’s performance in the market.
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