The crypto continues to sign impressive partnerships in Middle-East, after getting certified as the first Shariah compliant crypto. The popularity of the crypto token now reflects in the form of a strong rise in the number of active accounts.
The blockchain network now has one million active accounts. On its way to achieve the milestone, the cryptocurrency recorded 25 million payments and 8 million trades.
Notably, Coinbase, which is the largest crypto broker in the US with more than 21 million customers, has given top priority to Stellar (XLM) in the list of assets that are being studied for possible addition to the platform.
New #Stellar milestone passed: 1,000,000 accounts on the ledger. Congratulations to @StellarOrg and awesome Stellar Community! https://t.co/ws3Cx3uUzU pic.twitter.com/GbKPkwBONH
— OrbitLens (@orbitlens) August 27, 2018
It’s OFFICIAL.
Stellar has achieved the 1 MILLION active accounts MILESTONE.
EPIC mark for $XLM:
– 3,300+ Stellar assets
– 25 million payments
– 8 million tradesThe WORLD‘s READY for the fastest-growing, humans-powered, usable BLOCKCHAIN TODAY!
NOW is the time to #UseLumens pic.twitter.com/2pebFjWEL0
— Stellar Lumens (@StellarLumens) August 28, 2018
Stellar (XLM) and Ripple (XRP) are perceived to be competitors as both networks aim to offer cross-border payments faster and cheaper. However, Ripple is considered to be highly centralized by the crypto community. Furthermore, Ripple mainly provides enterprise level solutions. On the contrary, Stellar is mainly trying to facilitate p2p payments, particularly in Africa.
IBM Partnership
Ripple continues to make partnerships with big financial institutions across the globe. Stellar got a big breakthrough recently, when IBM backed StableCoins were launched on Stellar network. IBM’s involvement is expected to further improve the prospects of the cryptocurrency.
While speaking to Reuters, IBM’s vice president of the global blockchain, Jesse Lund said,
“IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.”
Shariah Compliance
As mentioned earlier, Shariah compliance certification puts Steller network miles ahead of other blockchain networks, when it comes to doing business in the Middle East.