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- Stellar’s XLM surges as financial institutions adopt its network for asset tokenization.
- Stellar partners with SheFi to empower women in the blockchain industry.
In today’s cryptocurrency market, XRP and XLM have emerged as the top gainers, where both are frequently juxtaposed.
Both coins were founded by Jed McCaleb and have been frequently juxtaposed by crypto enthusiasts. Their present success supports this juxtaposition, as both aim to promote quick and cost-effective cross-border payments, disrupting the old banking system, which is frequently slow and expensive.
Stellar’s XLM Rises Amidst Increased Institutional Adoption and Market Interest
Following XRP’s amazing success in recent days, Stellar’s token, XLM, has risen to the top five gainers on CoinMarketCap. As of writing, XLM is trading around $0.1042, up 4.05% over the last 24 hours on a daily trading volume of $112.03 million, which has more than doubled.
This increase in volume represents a substantial jump in interest for XLM, which has helped it rebound from its lowest level in a year.
Adding to the excitement, crypto influencer Good Morning Crypto sent a tweet detailing key Stellar developments this year. Financial organizations are increasingly turning to Stellar for real-world asset (RWA) tokenization.
🚨 HUGE NEWS FOR STELLAR $XLM 🚨
Financial institutions are using Stellar for real-world asset tokenization !! 👀📈
Deutsche Bank-backed Infrastructure provider Taurus has expanded its digital asset custody and issuance offerings to the Stellar Network !! 🌎
Taurus joins… pic.twitter.com/Nm0R0nxzMD
— Good Morning Crypto (@AbsGMCrypto) June 24, 2024
Taurus, a Deutsche Bank-backed infrastructure provider, has expanded its digital asset custody and issuance capabilities to include the Stellar Network. Taurus has joined other financial institutions such as Franklin Templeton, WisdomTree, and Circle in using Stellar for asset tokenization.
Furthermore, the Stellar Development Foundation has collaborated with SheFi to empower women in the blockchain field, as previously reported by CNF. The Stellar Community Fund intends to increase gender diversity among Stellar developers, thereby creating a more inclusive atmosphere.
