Stellar Soars Following Current Stripe News

Stellar Soars Following Current Stripe News

While Stripe will no longer support bitcoin payments following April 23, their product manager, Tom Karlo, proposed that they might add other cryptos in the future. He names Stellar Lumens as the most probable option.

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While Stripe will no longer support bitcoin payments following April 23, their product manager, Tom Karlo, proposed that they might add other cryptos in the future. He names Stellar Lumens as the most probable option.

Following the blog post announcement, the price of XLM (stellar lumens) surged by nearly 22% yesterday. By information provided by CoinMarketCap the currency, hold sixth place by a total market cap of $10.3 billion. At current rates, one XLM costs $0.60 and continues to grow.

Stripe is a payment processing company that more than 100 000 businesses use. Some of those are Warby Parker and OpenTable. Bitcoin’s slow and expensive transactions had made Stripe users move away from this payment method. However, the company is willing to add stellar lumens if users’ demand continues to grow.

Apart from XLM, Stripe is thinking of adding Litecoin, Bitcoin Cash or other altcoins as payment methods. Transactions costs and speed are the most important characteristics that define whether one currency interests the community or not.

Despite the news from the Stripe camp, Bitcoin did not suffer major price corrections. Moreover, its value has grown 5% during the past 24 hours. On the other hand, is seems like bitcoin transactions are getting slower and slower. According to Blockchain.info, bitcoin transactions may take more than a day to settle.

In comparison, Stellar transactions happen for just under 5 seconds and cost less than a penny. In recent month the stellar token, XLM, managed to climb in the top ten cryptos by market capitalization.

Stellar partners with IBM on the development of a universal cross-border payment network. Deloitte is also in good terms with the fintech company. Since the beginning of 2018, bitcoin has dropped by 18% while at the same time Lumens managed to go up by 60%.

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