The Stellar Development Foundation (SDF) has announced the launch of new payment hubs in Latin America and the expansion of its partnership with MoneyGram. These initiatives aim to enhance financial accessibility and the use of the cryptocurrency XLM.
Launch of International Payment Hubs
The Stellar Development Foundation (SDF) is partnering with two financial institutions in Argentina and Colombia to create blockchain-based payment corridors. These hubs provide near-instant transfers in local currencies and use XLM for internal liquidity routing.
Expansion of MoneyGram Collaboration
MoneyGram has extended its settlement program using XLM to 10 additional countries, primarily in Southeast Asia and Sub-Saharan Africa. This allows users to cash out USDC or XLM through traditional retail networks.
New Technologies and Developments from Stellar
Stellar has also launched a testnet for its EVM-compatible smart contract platform, enabling developers to deploy Solidity-based contracts. Additionally, the SDF is proposing to pause the remaining inflationary minting of XLM to align issuance with real demand.
The launch of payment hubs and the expansion of XLM capabilities highlight Stellar's commitment to improving financial accessibility and implementing innovative technologies in the market. These changes may significantly impact the future use of cryptocurrencies in international transfers.
