Stellar, Connecting the World’s Money in a New Way

Right now, sending money around the world and across borders is costly because it needs to travel through multiple financial service providers before reaching its final destination. The multiple-step approach, necessary due to system infrastructure and rules governing cross-border transactions, can be optimized and made more efficient (saving time and money), which is where Stellar comes in. In addition to the cross-border use case, by creating an open source, decentralized backend that leverages the network of network ideas, Stellar can also be used by developers globally to develop new kinds of financial products and services, ranging from currency exchanges to micropayments. The San Francisco-based Stellar Development Foundation maintains the Stellar network. The assets native to the Stellar network are Stellar Lumens or XLM.