Stellar is one of the top altcoins that has been around since many years ago. Co-founded by Jed McCaleb, Stellar easily rose to fame in 2017, the same year where the cryptocurrency market reached its peak bull market. For your information, Jed McCaleb is the same guy who co-founded Mt. Gox and Ripple.
Stellar is known for its very fast transaction speed and very cheap transaction fees. Its vision is to bank the unbanked population as well as to compete directly with the likes of SWIFT and Ripple in the space of cross-border transactions. Of course, in order to achieve its vision, Stellar must be able to attract top partners to its ecosystem.
So, how successful are they in their efforts? Let’s learn more about their major partners and integrations. Here’s the list of their major partners:
HTC Exodus (source)
Franklin Templeton (source)
Novatti Group (source)
Detailed List Of Integrations
When Stellar was introduced to the world, many of its earliest adopters have foreseen the use case of XLM in the cross-border transaction space. Just like XRP, the biggest advantage of Stellar is its speed. Corporations have been looking for “fast and cheap” cryptocurrency to revolutionize the wire transfer industry in the banking system. IBM, as one of those corporations, eventually chose to partner with Stellar to build “IBM Blockchain World Wire”.
The concept of IBM Blockchain World Wire is similar to Ripple’s RippleNet that utilizes the XRP ledger. Both RippleNet and IBM Blockchain World Wire are utilizing crypto tokens to move money from and to different countries. The difference is that IBM would deploy CBDCs (Central Bank Digital Currencies) as the bridge currencies inside the Stellar platform while RippleNet would always use XRP as its bridge currency.
When the partnership news between IBM and Stellar Foundation came to surface for the first time, many Stellar supporters became quite optimistic. IBM also supports the Stellar ecosystem by providing validating nodes in the Stellar blockchain. Nonetheless, there are some rumors that the partnership between the two entities is not as strong as it used to be. IBM Blockchain central figure, Jesse Lund, left IBM in 2019. It’s important to acknowledge that Jesse Lund was the main driving force for the partnership between IBM and Stellar.
Still though, IBM has said multiple times they would commit to Stellar even after Jesse Lund left the company. If IBM successfully convince international banks to migrate from SWIFT to Blockchain World Wire, it would help Stellar’s reputation and use case tremendously.
Smartlands is another top partner of Stellar Foundation and the Stellar ecosystem. It’s an UK-based company that tries to “tokenize” assets, such as real estate properties and traditional companies’ equities. Smartlands is not the only crypto startup that tries to bring real estate ownerships to the blockchain but it is definitely one of the more promising ones.
For your information, Smartlands has partnered with Colliers international, a very well-known international real estate service company. It is written that Smartlands team almost chose Ethereum as its platform before they decided to build on Stellar. One of the main reasons why Smartlands decided to partner with Stellar is due to the low transaction fees. They believe that Ethereum gas fees are simply too high compared to Stellar and it’s not sustainable enough for Smartlands’ business. The fact that Smartlands utilize Stellar blockchain is a positive testimonial for Stellar’s use case in the real world and the real estate market.
For example, Smartlands has some good real estate offerings, such as the student accomodation block in Nottingham and Lillie Square Prime London residential. You can buy these properties directly on the Smartlands platform which would utilize the Stellar blockchain. Yes, you can own the tokens that represent these properties and still be legally protected by the local laws.
Stripe is a popular online payment processing for internet business. You might know Stripe from e-commerce platforms such as Shopify. Stripe core team itself has been publicly bullish about the potential of cryptocurrencies in the future. Stripe is known for its big support on Bitcoin and Stellar.
Stripe team contributed $3 million in the development of Stellar. Not just that, Stripe has also integrated XLM as a medium of payment in the Stripe platform. It’s believed that Stellar is considered one of the best altcoins by the Stripe team – which is why they agreed to integrate XLM into Stripe.
4. HTC Exodus
HTC used to be the most popular android smartphone company in the world before Samsung took over the crown. Since then, HTC has been trying to reinvent itself in the phone industry. Rather than trying to go “mainstream” like every other Samsung and Apple competitors out there, HTC has chosen to go niche. And that niche is the blockchain industry.
HTC Exodus is HTC’s answer to their attempt to attract crypto traders and investors. Under HTC Exodus, they created a secure crypto wallet that’s called “Zion”. From the very beginning, Zion has supported Bitcoin and bunch of popular altcoins, including XLM.
5. Franklin Templeton
Franklin Templeton is a huge global investment firm founded in New York City. According to the latest report in 2018, Franklin Templeton had over 717 billion USD worth of assets under its management team – which is a huge number. In 2019, Franklin Templeton made a preliminary SEC filling to utilize blockchain technology for government securities.
And fortunately for stellar, the same filling claimed that the ownership of the shares would be recorded on the Stellar blockchain. This news was a huge win for Stellar, who has been trying as best as it can to attract traditional companies to utilize its platform. That being said, Franklin Templeton itself has claimed that they would not invest in cryptocurrencies. In other words, they are only interested in utilizing the blockchain for their needs.
Wirex is a popular digital payment platform where you can easily convert and spend different cryptocurrencies at more than 40 million locations all over the world. It also allows you to pay with cryptocurrencies and let the platform convert those same crypto tokens into wire transfer inside the SWIFT wire transfer mechanism. In other words, you can pay with crypto and let the recipient receive real USD in his local bank account.
Wirex is considered popular among crypto users and it has integrated XLM as a medium of payment, along with other cryptocurrencies. The fact that XLM is among the most popular altcoins in the world had helped Wirex’s decision to integrate XLM into its system.
Baracoin tries to help Africa financial services by utilizing the public blockchain technology. Baracoin has built a cheap and border-free network that would help many underbanked African merchants and customers to connect with each other through the blockchain ecosystem. And instead of trying to reinvent the wheel, Baracoin decided to utilize a popular blockchain network that could help them achieve this vision without high transaction costs. That blockchain network is Stellar.
The idea here is to utilize Stellar blockchain for Baracoin’s financial services that would be used in Africa.
8. Novatti Group
Novatti Group is a publicly-traded online payment processor company. It’s founded and operated in Australia since 1994. And just like any other online payment processing service, Novatti Group believed it had to try to expand to various different use cases if it wants to stay relevant and be ahead of its competitions.
Novatti Group has publicly expressed its interest in the blockchain payment service. The core team of Novatti group believed that Stellar blockchain could help them achieve this vision and together they would form a “global value exchange network”.
Saldo is another fintech company that tries to utilize a fast and cheap blockchain network to fulfill its goals and vision. Saldo’s main idea is to let Mexican workers in the U.S. to pay their family bills back home in Mexico. The concept is similar with utilizing the blockchain for remittance but they take it one step further with the bill payment across the border.
And to help them achieve this dream, they integrate the Stellar blockchain into the Saldo platform. They are hoping that Stellar’s on-demand liquidity would be big enough in the upcoming years to help them achieve better adoption rate among migrant workers in the U.S.
The use case of TEMPO is similar to Remitly or other services where you can send money to France and other countries. The advantage of this type of application is that you can easily save fees and get a much more competitive forex rate. The recipient can also pickup the cash on certain locations that are officially supported by TEMPO. It looks like TEMPO’s main focus is still on the EU countries, though.
And to help themselves save costs, TEMPO utilizes the Stellar blockchain for the remittance procedure. Keep in mind that utilizing Stellar is not the only option here, they also provide more traditional payment methods besides Stellar.
Bitbond is the Germany-based legally compliant platform to tokenize debt securities. In layman’s terms, it’s basically another STO issuance platform but it’s based in Germany. And yes, Bitbond has chosen to issue its STO and its clients’ security tokens on top of Stellar. Bitbond believes a blockchain platform has to be speedy and cheap if it wants to go mainstream.
And that’s exactly why Bitbond chose Stellar because it believes the costs of transaction on Stellar blockchain is at a fraction of a cent – which is ideal for the likes of Bitbond and other serious security token issuance platforms.
SureRemit calls itself the “non-cash remittance” platform, where you can easily help your families and contacts abroad to pay their bills, send vouchers, and even help charity donations. If you are an expat who lives abroad and still has a bank account in your native country, you can also utilize SureRemit to help yourself save on forex rates and remittance costs.
And to help themselves save on costs, SureRemit is utilizing the Stellar blockchain. It has created its own native utility token that’s called RMT inside the Stellar ecosystem. The idea here is to help expats and migrant workers to save on remittance fees and time with Stellar blockchain.