- Aim is to incorporate Stellar Lumens into crypto markets
- This should eventually boost XLM’s value
- Greatest benefits could be in developing markets
A new cryptocurrency exchange platform called Shift Markets has entered into a working relationship with Lightyear with the aim of incorporating Stellar Lumens (XLM) into the cryptocurrency markets.
This information, revealed on Twitter, confirms that the joint venture will enable everybody to directly access Stellar Lumens without having to buy Bitcoin to get started.
In addition to this, the source hinted that because of the increasing number of fiat currencies, the partnership with Lightyear will hold other benefits for Stellar that should eventually positively affect its value, such as a measurable increase in the cryptocurrency’s chances of being officially accepted by international banks.
Shift Markets Co-founder Ian McAfee called the news “exciting”. He added that Lightyear’s commitment to offer low-cost financial tech in developing countries made them a solid fit for his company’s market.
McAfee concluded: “We aim to increase Lumen liquidity and usage for both major and exotic fiats.”
The Shift Markets platform provides users with the opportunity to access a variety of markets worldwide, often where the cryptocurrency market is still undeveloped. The new partnership will enable Stellar to enter into markets where its main competitors will be fiat currencies.
Lightyear Director of Sales and Partnership Paul Arnatoff said they were extremely excited to join forces with Shift markets to help grow the reach and utility of the Stellar blockchain network.
He added that with Shift Markets’ customers and technology platform, Stellar markets will enjoy access to an expanding network of liquidity providers in fresh and emerging markets.
He concluded: “With new on-ramps and off-ramps for fiat to virtual currency, the Stellar network continues to expand its mission of financial inclusion and reducing friction in cross-border payments.”