Categories: Ripple

Stellar Lumens (XLM) Teaming Up with Tempo To Go Against Ripple: Price Reversing

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One of the global-leading traditional money transferring companies – Tempo, is working on a world-scale cryptocurrency payment network. To do so, Stellar Lumens open-source decentralized protocol that runs the token XLM is used to support the system. By doing so, Tempo is not just trying to make exchanges easy, but also faster. Obviously, this is a direct runner up against the popular crypto-startup Ripple and its cross-border payment solutions.

Stellar Lumens – Tempo

Based in Paris and reaching across the whole globe, Tempo with the use of Stellar Decentralized Exchange (DEX) to achieve the needed liquidity – wants to be the lead in crypto-payment networks. The project runs on the idea to make crypto-to-fiat exchanging simpler. Stellar DEX, a fully decentralized cryptocurrency exchange, functions on top of the Stellar Network as its base of operation.

Tempo not only allows for fiat backers to exchange their crypto for cash immediately, but by offering a debit card, Tempo provides the ability to use cryptocurrencies to purchase goods and services. Tempo offers blockchain payments both offline and online, and crypto remittances to nearly 100 destination countries.

CTO of Stellar Network – Jed McCaleb, highlighted how the teaming up will commence a wider reach for currency and crypto in the general idea.

“Tempo’s early integration with Stellar and role as EU anchor is revolutionizing international payments, making global payments faster, more reliable and less costly for clients”

One major problem facing the cryptocurrency world is cashing out or liquidity. Though few companies make cashing out possible, it takes days and rigorous processes before finalizing the transaction. Tempo seeing this sad state of affairs has in place its global payment network and its mobile app which gives fiat owners a way out to cash out without being subject to the huge cash out fees of BitcoinsATM.

Stellar Lumens – Coinbase

Two days ago, the leading U.S. based crypto-exchange Coinbase with more than 13 mil users announced that it is looking into various digital currencies. One of the mentioned is Stellar Lumens XLM.

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f

— Coinbase (@coinbase) July 13, 2018

They also cautioned that the listing of the 5 new digital assets was not a guarantee:

Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading.

However, the declaration had no stop for crypto-lovers to start stepping in for their fav ones. On that day each coin experienced double digit gains, while for Stellar XLM it still is looking very good with 8.14% increase in the last 24-hours. Various times it has been concluded that speculations are the best catalyst for the price engine to start pumping.

Source: coinmarketcap
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