Stellar's Institutional Spotlight Ahead of Protocol 28 Upgrade Vote

The Stellar network is gaining attention from financial institutions as it prepares for its Protocol 28 upgrade vote on September 16. Nuvanté Technologies has built a stablecoin clearing prototype on the Stellar network, which was integrated with the Bank of England's RTGS test environment.

The prototype tested stablecoin clearing and settlement flows against central bank infrastructure, putting Stellar's settlement capabilities under focus. This development aligns with Stellar's existing focus on stablecoins, tokenized assets, and cross-border settlement.

XLM is trading near $0.194 at press time, approaching a descending trendline that has capped the market since June. A daily close above $0.20 would break this resistance and expose $0.22 as the next hurdle.