Category: xlmusdt

How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services

How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services

The Stellar Development Foundation (SDF) has made a fresh bet on the financial services sector. According to a press release, the institution participated in a $145 million series E for Tala.
A global technology company working on providing millions of people with access to lend, borrow, and other financial services Tala reached an over $350 million funding with support from the SDF and its Enterprise Fund, Upstart, and others.
Related Reading | Stellar Network To Power New Savings API Launched By Wyre
Launch in 2020, the SDF’s Enterprise Fund provides support, in U.S. dollar or XLM, to payments companies with a cross-border approach, companies that provide financial inclusions in emerging markets, access to tokenized assets, and other criteria.
The fund was launch with the objective of investing in companies capable of bringing real world use case and contribute with the Stellar ecosystem.
Tala will use the funds to create a crypto product to attract mass adoption especially oriented to developing countries. In these countries, over 3 billion people lack options to participate in the global financial sector.
Thus, Tala will leverage cryptocurrencies, mobile technology, and data science to provide people with tools to increment their wealth and achieve economic independence.
Related Reading | Stellar To Introduce AMM Functionality, What This Means For Its Ecosystem
Denelle Dixon, CEO and Executive Director for the Stellar Development Foundation, claimed that their investment in Tala represents their confidence in the company’s potential. Dixon added:
Joining forces with Tala to improve access to financial services for millions of people in emerging markets is exactly aligned with our mission at Stellar Development Foundation. Since the Stellar network leverages interoperability with the world’s existing financial systems, Stellar and Tala technology together are a powerful tool to bridge gaps for those who have been left out.
Stellar New Partnership And A Future Of Financial Inclusion
The CEO and Founder of Tala Shivani Siroya said the following on their progress over the past years, trying to improve the traditional financial system, and their future:
This new investment will accelerate our path to becoming the primary financial account for the global underbanked and helping millions more people make progress in their financial lives. Paul Gu and Denelle Dixon are visionary leaders who share our commitment to building a financial system that works for everyone and we are thrilled to welcome them to the team.
The Co-Found and Head of Product at Upstart Paul Gu claimed that Tala has begun to solve one of the most important issues for consumers in the developing world by providing with access to financial services. Gu said:
Upstart shares Tala’s belief that technology is the key to unlock access for the underserved, and we’re excited to support them in serving the next 1 billion people entering the financial system.
As NewsBTC reported yesterday, Stellar has been making relevant developments, getting major partners such as payment giant MoneyGram, and investments in 2021. This network ecosystem seems to be growing as the year ends.
This has translated into positive performance for Stellar’s native asset XLM. Over the past 2 weeks, this cryptocurrency has been one of the best performing assets in the crypto top 25 with a 35.7% profit.
Related Reading | Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding
In lower timeframes, as Bitcoin (BTC), Ethereum (ETH), and the rest of the cryptocurrencies in the top 10 move sideways, XLM records a 2% and 3.5% profit in the daily and weekly charts, respectively.
XLM with minor profits in the daily chart. Source: XLMUSDT Tradingview

Stellar Soars 8% Overtaking Bitcoin’s Performance, What Prompted The Boom?

Stellar Soars 8% Overtaking Bitcoin’s Performance, What Prompted The Boom?

Up 10% in the daily and 36.3% in the 2 week chart, at the time of writing, Stellar Lumens (XLM) has been one of the best performing assets in the crypto top 30 by market cap. The cryptocurrency has managed to outperform Bitcoin, Ethereum, and other major coins in the top 10.
XLM with minor profits in the 24-hour chart. Source: XLMUSDT Tradingview
Stellar technical indicators have quickly moved into the buying zone with the simple moving average (SMA) and exponential moving average (EMA) crossing the $0,32 mark.
Related Reading | Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding
The Relative Strength Index (RSI) remains neutral with a 61.5 value, but the Moving Average Convergence Divergence, a metric used to measure price momentum in an asset, is flashing a buy signal.
XLM trending to the upside coincides with exponential growth in its ecosystem. As summarized by the Stellar Development Foundation (SDF), the network made significant developments in Q3, 2021.
In addition, it managed to secure important partnerships such as the one with payment giant MoneyGram. This will allow users to connect their wallets with the company’s global retail platform.
Thus, consumers will be able to leverage cash funding and payouts in USD Coin (USDC) with Stellar potential to instantly settle a transaction. In that sense, the network has expanded its main use case and its capacity to onboard millions of new users into its network.
Related Reading | Stellar Network To Power New Savings API Launched By Wyre
At the time, the CEO and Executive Director for the SDF Denelle Dixon called the partnership a demonstration of the power of blockchain technology to improve the legacy financial system. Dixon added:
Thanks to the reach of MoneyGram’s services and the speed and low cost of transactions on Stellar, a new segment of cash users will be able to convert their cash into and out of USDC, giving them access to fast and affordable digital asset services that may have previously been out of reach.
Stellar Growths To Fulfill Its Original Vision
In addition to the MoneyGram partnership, the SDF released a Whitepaper describing how Stellar was designed to facilitate the deployment of Central Bank Digital Currencies (CBDCs).
The SDF claims that the network has unique characteristics which allow it to support these assets and how a central bank can issue implement it on Stellar.
With the development of the digital Yuan and its fast progress, CBDCs are climbing the priorities of international governments. The network could support the CBDCs of the European Union, of developing countries in Africa, and others in the future.
In addition, as NewsBTC reported, the network will soon vote to implement Protocol which will grant it Automated Market Makers (AMMs) functionality. The SDF claimed:
This AMM development process to-date has been a shining example of how our entire ecosystem can work together, anchored around Stellar’s guiding open source principles, to further Stellar network development and sets a new bar on our collective collaboration.
The ecosystem has experienced other important developments and its use cases from cross-border payments to its energy efficiency to a recently announced initiative to accelerate blockchain education.
Related Reading | Stellar To Introduce AMM Functionality, What This Means For Its Ecosystem
In many sectors, XLM seems to be moving ahead of the curve and it has reflected on its price action suggesting a strong potential for a sustained rally into Q4, 2021.

Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding

Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding

Leading wealth management platform Abra completed a Series C funding with participation from the Stellar Development Foundation. The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital.
The Stellar Development Foundation was one of the new investors in the company alongside Kingsway Capital and Tiga Investment. In addition, Abra received investments from Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors.
Related Reading | An Introduction To Stellar And XLM: Mission, Control, And Consensus
Other relevant names participated in the Series C funding, according to a press release. The wealth management platform increased its total funding to more than $85 million since its creation.
The release claims that the funds will be used to expand Abra’s team into new offerings which include wealth management, trading, and payments. Thus, why the investment from the Stellar Development Foundation could have a relevant role to achieve this goal.  Bill Barhydt, founder, and CEO of Abra said the following:
Cryptocurrencies, NFTs and DeFi are now top of mind for almost all investors. The crypto asset class is growing exponentially, even outpacing the early commercial Internet itself. Our vision of crypto-centric banking is coming to life in front of our eyes, and Abra is excited to serve as a leader in the space.
Barhydt claimed to feel “proud” of the Abra team and their accomplishments. The executive expects the platform to keep scaling and growing.
Stellar And Abra’s Shared History Of Crypto Expansion
Since 2020, Abra has seen “tremendous” growth, according to the press release. The company records a ten-fold increase in revenues, and a 0 to $1 billion in assets under management (AUM) for its custody services, Abra Trade and Abra Earn.
Related Reading | Stellar Network To Power New Savings API Launched By Wyre
In the same period, the company’s 155,000 monthly users have processed $4 billion in transactions. In that sense, Bart Stephens, Managing Partner at Blockchain Capital, said the following on its latest Series C Funding:
We believe Abra is on an exciting growth trajectory, led by a strong management team with an understanding of the long-term potential for cryptocurrencies. Abra offers unmatched accessibility for every type of investor which positions the company well for capitalizing on the growth in adoption and interest in cryptocurrencies globally.
In 2020, the Stellar Development Foundation made a $5 million investment in Abra. The partners worked to expand Abra’s financial services with Stellar as a blockchain back-end and “democratize access” to them for new customers in developing countries.
Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course
At the time, the CEO of the Stellar Development Foundation Denelle Dixon said:
Abra is building a product portfolio of financial services that aligns directly with our mission to create equitable access to the global financial system. They’re committed to providing innovative investment opportunities in underserved, capital-scarce markets.
Alvaro Rodriguez Arregui, a Managing Partner of IGNIA, added:
Abra is perfectly positioned to execute on its mission to expand access to crypto assets in a safe and secure way for customers. As international investors ourselves, we recognize the need for safe and reliable access to the crypto ecosystem and are excited to support Abra.
At the time of writing, XLM trades at $0,33 with a 3.8% profit in the daily chart.
XLM with small profits in the daily chart. Source: XLMUSDT Tradingview

Back to top