Clients have been asking when they can invest in Stellar (XLM) inside their IRA Retirement Accounts and that time is now!
Who created Stellar?
The Stellar story starts with Jed McCaleb. He is fairly prolific in the crypto industry having created the first large-scale Bitcoin exchange, known as Mt. Gox. In 2011, he founded and was the CTO of Ripple until moving on to create Stellar. He built Stellar as a fork of Ripple (XRP) and while having similar underpinning technology, he had a much different and larger vision than his original Ripple creation.
What is Stellar?
Stellar describes itself as an open network for storing and moving money. The original intention was to make it possible to create, send, and trade any digital asset. The hope was to allow the entire world’s financial systems to work together through the single network known as Stellar. One can think of Stellar as a next-generation payment system, with its own unique digital currency. While much of those aspirations have yet to come true, Stellar has made notable headlines throughout the years.
In 2018, Stellar was used as a piece of IBM’s World Wire Program. This program was designed for financial institutions to use stablecoins built on Stellar in order to streamline payments and settlements.
In 2021, Circle announced that it was adding Stellar to its growing list of blockchains that support USDC, the stablecoin that primarily lives on Ethereum. Stablecoins have shown to be not only a critical piece of infrastructure for decentralized finance but they have the potential to truly change global finance and cross-border payments as a whole.
What is Stellar Lumens (XLM)?
Stellar Lumens (XLM) is the native digital asset of the Stellar blockchain. XLM is used in order to pay for transaction fees when using the network and as a potential bridge between stablecoins and other digital assets built onto the Stellar network.
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