When it comes to major turning points for all the cryptocurrencies that are making it big right now from the likes of Bitcoin, Ethereum, Bitcoin Cash and Litecoin, the fact that they all had very easy access to exchange with fiat currencies is what they had as their biggest asset. This meant that anybody who wants to make an entry into investing in those digital assets had to only go to an exchange for cryptocurrencies and exchange their chosen fiat currency into the equivalent amount of the digital token in question. The likes of Coinbase saw to that being done smoothly. The thing is that such an option has not been available for a lot of the other digital assets and they would only dream of this. When it comes to the Stellar ecosystem and their Lumens tokens, this dream is now an inevitability due to Stronghold.
Lumens and Dollars
The announcement came out yesterday about the fact that the Stellar ecosystem is now going to have its very own capabilities of XLM to USD exchange. That will allow users to both sell and buy XLM tokens by using US Dollars.
Considering the fact that the transaction fees within the Stellar network is remarkably low, the development could see bank to back and even cross border payments see a surge due to increased efficiency and affordability. XLM can also potentially become the digital asset which will be preferred by people who want to cash out their cryptocurrency assets for US Dollars.
Their announcement has also said that the addition of a USD to XLM on-ramp and off-ramp will garner the support for more businesses getting involved within the Stellar ecosystem. The Stellar network itself has a lot of appealing features right now that cater excellently to both businesses and individuals.
Of course when it comes to real life use cases, the Stellar ecosystem does not even compare to the likes of Ethereum right now but that can change within the coming few years as the Stellar network’s proliferation accelerates due to their first US Dollar anchor through Stronghold. It’s even possible that the Lumens might just pose a real threat to the XRP tokens created by Ripple when it comes to the mass adoption by major financial institutions and banks when they are looking to move their money around the world in a fast and affordable manner.
All of this spells a potentially lucrative future for the Lumens and the Stellar ecosystem itself.