![]() ![]() In this case, the USD Coin (CCC: USDC-USD ) for settlement of the transactions. ![]() MoneyGram is also planning to use a stablecoin. This is an issue that Josh Enomoto referred to in a recent article about Stellar Lumens. This is because Stellar Lumens supports the use of stablecoins to eliminate volatile price fluctuations. This was made clear by Interstellar CEO Mike Kennedy who said using XLM could be an option, but it wouldn’t be necessary since the transactions being made are crypto-agnostic. Lightnet doesn’t require Stellar’s native XLM token to make these transactions. In developing nations, it’s a rigged game, and Stellar can help level the playing field. This would seem to be an ideal application for Stellar Lumens because it includes millions of unbanked workers who face exorbitant fees to send money home to their families.Īs Lightnet reminds us, the issue of money transfer is annoying to many in the United States. Lightnet focuses on addressing the global remittance market in Southeast Asia. Stellar also has a partnership with the fintech company Lightnet, and Lightnet is also collaborating with MoneyGram. I’m thinking the answer is no and here’s why. What’s less clear to me is if Lumens are required for the transactions. Under the terms of the agreement, the Stellar Foundation will develop a payment bridge that streamlines money transfers. I outline (and perhaps oversimplify) the use case for Stellar Lumens because of its partnership with MoneyGram. The recipient would receive the Lumens and then convert them back to their native currency. Lumens) that I would send via the blockchain. dollars to purchase digital representations of those dollars (i.e. This is where the company’s token, the Lumen (XLM) comes in. I could send money to someone anywhere in the world and they would receive it in their native currency in almost real time. ![]() It’s like Venmo on a global scale which I’ll admit is exciting to think about. In the case of Stellar, it allows individuals to make cross-border exchanges of money in seconds as opposed to days and it does it for less cost. The company is taking a situation we can all understand and providing an elegant solution. I appreciate the simplicity in the use case for Stellar Lumens. Stellar Lumens Has a Clearly Defined Use Case ![]()
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