stellar
Stellar is a decentralized, open-source blockchain network designed for fast and cost-effective cross-border transactions. Launched in 2014 by >Jed McCaleb, Stellar aims to improve financial inclusion by providing a bridge between traditional banking systems and blockchain technology. The network uses the >Stellar Consensus Protocol (SCP), which enables secure and rapid transaction processing without relying on energy-intensive mining. Its native digital asset, Lumens (XLM), serves as a utility token to pay for transaction fees and facilitate currency exchanges.
Stellar is primarily designed for >remittances and cross-border payments, making it an attractive solution for individuals and businesses needing efficient money transfers. Unlike traditional banking, which involves intermediaries and high fees, Stellar allows transactions to be completed in seconds with minimal costs. Financial institutions and fintech companies can utilize Stellar to issue and exchange digital representations of real-world assets, including stablecoins and national currencies. The network also supports >tokenized assets, enabling users to manage digital versions of stocks, commodities, and other financial instruments.
Stellar has been adopted by various >financial institutions, NGOs, and payment processors to enhance global financial transactions. The >World Economic Forum (WEF) has recognized Stellar’s role in promoting financial inclusion, and companies like >MoneyGram have integrated the network for seamless remittances. Additionally, Stellar has partnered with >Circle to facilitate >USDC (USD Coin) transactions, making stablecoins more accessible worldwide. With its focus on >low fees, high scalability, and inclusivity, Stellar remains a key player in revolutionizing global finance through blockchain technology.