- The Stellar Lumens project has celebrated the launch of its open-source disbursement platform.
- The platform will make faster, cheaper, and transparent digital disbursements available to anyone in the world.
The Stellar Lumens network has this week confirmed the launch of its open-source disbursement platform. The platform, which can be accessed from anywhere in the world, uses digital assets to make faster, cheaper, and transparent digital disbursements available to anyone. The new bulk disbursements tool aims to revolutionize a number of industries from the gig economy to delivering digital aid all over the world.
The disbursement platform has already proven its versatility. In December 2022, the Stellar Disbursement Platform was used to power digital aid disbursements in Ukraine. Sending humanitarian aid is a single demonstration of its use case with the network explaining that it could be used for global payroll and micropayments. By utilizing the Stellar network, the transactions are cheap, accessible, transparent, and easy to scale.
- Quickly send funds to thousands of recipients in seconds.
2. Monitor funds delivery in real-time.
3.Power supplier payments, payroll, contractor payments, and more.
4/ Access the Stellar Disbursement Platform anywhere in the world to:
1⃣Quickly send funds to thousands of recipients in seconds
2⃣Monitor funds delivery in real-time
3⃣Power supplier payments, payroll, contractor payments, and more pic.twitter.com/DgafCxFp8Z— Stellar (@StellarOrg) August 16, 2023
True to its mission, the Ripple rival is helping bank the unbanked. This is another useful financial tool that will help millions of users around the world who would otherwise have difficulties accessing key financial services.
Stellar Lumen’s XLM Price Reaction
Although this is a major development for the network, it has made little impact on the network’s native token XLM. In the last 24 hours, XLM has lost nearly 4 percent, this drop correlates with the larger bearish trend in the market. At the time of press, XLM is exchanging for $0.12.
As CNF recently reported, Stellar (XLM) has recently become a minority investor in MoneyGram International, strengthening its position in the financial technology sector. As a result, Denelle Dixon, CEO of Stellar Development Foundation, secures a seat on MoneyGram’s Board of Directors. MoneyGram and Stellar have been working together since 2019, and the latest development further strengthens their partnership.
Although Stellar prices are still struggling, investors are confident that recent developments around the network will easily drive it to $0.20, which is the next major resistance. As long as the network continues to build and strengthen its position, investors can expect its price to continue rising and reflect the growing adoption and influence of the project. The all-time high of the token is $0.94 reached during the 2017 bull run, a revisit is expected during the next major bull market.
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