Stellar's Stablecoin Expansion Raises Questions Over XLM Demand
Stellar, an open blockchain network for cross-border payments, is gaining traction among institutional players. Recent integrations with global payment networks have raised questions about whether this growth translates to higher demand for its native token, XLM.
London-based fintech company BVNK has added Stellar to its stablecoin payments platform, enabling over 130 business markets to send and receive cross-border payments using the network. This move forms part of a strategy to offer businesses seamless access to digital dollar liquidity for international settlements.
The stablecoin USDT0 is now available on the Stellar blockchain, enhancing access to unified digital dollar liquidity across multiple networks. This allows companies to transfer digital dollars globally without directly holding or transacting with XLM.
U.S. Bank has also piloted its proprietary stablecoin, USBDC, settling transactions between North American and European branches using Stellar's infrastructure.