In recent years, Ripple and its token XRP have garnered a lot of attention in cryptocurrency news. However, some analysts suggest that the real financial progress may be happening under the radar, with Stellar and its token XLM.
Comparison of Ripple and Stellar Strategies
Ripple has consistently attracted attention through lawsuits and bank partnerships but has faced challenges due to legal battles, negatively impacting XRP's price. In contrast, Stellar, founded by Jed McCaleb, has been developing quietly, focusing on building infrastructure and establishing global connections.
Stellar's Influence on Developing Markets
Stellar has formed partnerships in countries like Nigeria, Kenya, Ukraine, and the Philippines, where its solutions are already being used for real transactions. For instance, Stellar has worked with UNHCR, MoneyGram, and national banks to develop solutions for migration management and cashless payments.
The Future of XLM and Its Potential Significance
Despite XLM's relatively quiet position, experts believe it is already prepared for the transition to digital currencies and CBDCs. XLM is ISO 20022 compliant and supports smart contracts. While XLM's price remains relatively stable, its impact on the future of financial systems could be significant.
A comparison of XLM and XRP indicates that some projects can achieve success while remaining in the background. While XRP grapples with prominent challenges, Stellar may already be poised to shape the future of financial systems.
