Stellar on the rise thanks to Coinbase listing and Tempo partnership news

16 Jul, 2018
by Joeri Cant
News
Stellar on the rise thanks to Coinbase listing and Tempo partnership news

According to coinmarketcap.com, Stellar Lumens is currently the 7th largest coin with a total market value over $4B and average daily trading volume about $50 million, and is trading at $0.219.

Bottoming at $0.18 on July 12, XLM gained 10% amid news that US-based Coinbase is about to add support for Stellar.

Meanwhile, according to Ethereumworldnews.com, Stellar Network announced that they are teaming up with Tempo, one of the leading traditional money transferring companies, which is based in Paris and reaches across the whole globe.

Tempo, with the use of Stellar Decentralized Exchange, wants to be the lead in crypto-payment networks.

XLM will be used as the base currency for its payment network, which will be able to process 600,000 transactions for a fee as low as $0.01.

President of Tempo, Jeff Phaneuf said: “The existing Tempo remittance network allows Tempo to offer a quick cash-out process in multiple countries. We are now expanding to offer the easiest, fastest and most secure bridge between cash and crypto.”

The payment network announced that they will issue a debit card so that the platform users could spend their cryptos with ease anywhere in the world.

"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 said: “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”

While the Stellar website states: "With a network of 190,000 locations in 120 countries, Tempo and their cross-border payments enable customers to pay remotely for services such as water, phone, electricity, and health insurance".

Most would agree that this partnership between Stellar and Tempo, is direct competition against the popular crypto-startup Ripple and its cross-border payment solutions.

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Read more about: Stellar (XLM)

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