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- Stellar Development Foundation (SDF) and Archax are collaborating to tokenize real-world assets, aiming for lower costs, faster settlements, and broader accessibility.
- XLM trades around $0.4069, facing strong resistance at $0.50, with analysts hoping for a strong rebound.
A great development in the Stellar ecosystem currently is that Paxos has chosen the Stellar blockchain for issuing the PayPal (PYUSD) stablecoin. This could probably provide fuel for the XLM price rally, as the altcoin has been on a sideways trajectory over the past few weeks.
Stellar and Paxos Enter a Partnership for PYUSD Stablecoin Launch
Stellar has announced a strategic partnership between the Stellar Development Foundation (SDF) and Archax. The two players will focus on tokenizing real-world assets to deliver lower costs, global accessibility, and instant settlement. As part of the collaboration, SDF will make a direct investment in Archax Group, though the investment amount was not disclosed.
The initiative aims to bridge traditional finance with blockchain technology, potentially driving increased adoption of the Stellar network and its native remittance token, XLM.
Additionally, Paxos has received a non-objection certificate (NOC) from the New York State Department of Financial Services to issue its PYUSD stablecoin on the Stellar blockchain. If launched, this could significantly enhance liquidity on the network, with the entry of a major fintech player expected to create substantial momentum in the Web3 ecosystem. In an official statement, the Stellar Foundation noted:
We’re excited to share that Paxos has received a non-objection update from the New York State Department of Financial Services for PYUSD to be issued on Stellar. That’s one step closer to bringing PYUSD to Stellar this year.
PayPal’s native PYUSD stablecoin is also making inroads into traditional financial systems. As reported by CNF, global payments giant VISA added the PYUSD stablecoin, along with two other stablecoins. This move represents more than a portfolio expansion; it is a decisive step toward building a more adaptable and cost-effective cross-currency and cross-chain settlement framework.
XLM Price Faces a Make-or-Break Situation
Stellar’s native cryptocurrency XLM is trading near $0.4069, down 4.10% over the past 24 hours. The token remains in a consolidation phase, repeatedly facing rejection at the $0.50 resistance level as sellers continue to cap upward momentum.
The downward trend is nearing the 50-day EMA at $0.3936 amid sustained selling pressure. A decisive break below this level could lead to a retest of the 100-day EMA at $0.3568, representing a potential 12% decline from the current price of $0.4057.
Conversely, if XLM rebounds from the 50-day EMA at $0.3936, it could mirror the nearly 30% rally observed in early August. Such a move would allow the token to reclaim the $0.5000 psychological level, with an upside target of $0.5112, as reported by CNF.
