XRP Rival Stellar (XLM) Turns Green as Commercial Bank Runs Pilot Program for New Digital Currency System

XRP’s most prominent rival is rallying this week as a Ukrainian banking giant announces the results of using its blockchain in a new digital currency system pilot.

Stellar (XLM) is a multi-currency transaction network for recording and moving money through the blockchain.

XLM, the Lumen, is the native cryptocurrency of the Stellar network. People can use Lumens as a bridge currency between two fiat currencies when sending money abroad. Stellar aims to move money quickly, at low cost, and without any central authority.

XLM is up 13.4% this week as general crypto markets emerge. stellar too Announced Four days ago, TASCOMBANK Hryvnia, one of the oldest banks in Ukraine, recently published the results of a study on the issuance of electronic money on the blockchain, using Stellar as a testnet.

According to the announcement, the study “highlights the advantages of issuing on the blockchain.” Such advantages include more transparency, accountability, security and confidentiality, as well as lower costs per transaction and a higher performance threshold.

The test pilot focused on peer-to-peer and merchant payments to test “e-money issuance on an open blockchain with asset control capabilities for issuers.”

Full: https://cryptosaurus.tech/xrp-rival-stellar-xlm-turns-green-as-commercial-bank-runs-pilot-program-for-new-digital-currency-system/

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