Crypto lending and borrowing solution provider Celsius Network has joined hands with Lightyear.io to become a leading lender and borrowing partner for ICOs conducted on the Stellar (XLM) network. Lightyear.io facilitates financial enterprises to join the Stellar ecosystem easily.
Promising projects, which are planned to be deployed on Stellar, are funded through the incubator program. Ultimately this expands Stellar ecosystem, while making it easy for project owners to raise capital.
Commenting on the partnership, Celsius Network CEO, Alex Mashinsky said
“Stellar Development Foundation’s goals and our own are perfectly aligned. We’re both looking to bring in a new era of blockchain banking to both the developed and developing world and we’re excited to empower the next wave of crypto startups.”
Lumens (XLM) and other tokens deployed on the Stellar network will be soon added to Android and iOS apps of Celsius. By the end of this year, Celsius hopes to enable its app users to generate interest on deposits in the form of Stellar-based tokens.
Bitcoin IRA, the largest cryptocurrency individual retirement account (IRA) in the world, now boasts Stellar Lumens as the third most popular cryptocurrency. The platform allows investors to buy Bitcoin and other altcoins, including Ethereum, Litecoin, Ethereum Classic, Ripple, and Bitcoin Cash, for retirement accounts. Stellar, which was listed only in June 2018, has quickly climbed up to become the third most favored crypto among users.
Chris Kline, Bitcoin IRA chief operating officer, stated
“We just launched Stellar Lumens and Zcash this past June, and it’s exciting to see both coins take off so quickly. With so much momentum in the crypto sector in recent months, I feel confident that the bull market is here to stay.”
Stellar Lumens went through a big price correction in the past 24 hours. The crypto lost almost 17% to trade at $0.20.
