Stellar Invests $5M in Abra Ahead of Blockchain Integration

The Stellar Development Foundation (SDF) is pumping $5 million into Abra, a crypto financial services app, in its largest enterprise investment to date. Announced Wednesday, the capital allocation precedes Abra’s integration with the Stellar blockchain. The crypto wallet and investments app’s growing list of financial services are set to shift onto Stellar in a partnership both entities say will bolster network development. Since Abra’s 2014 launch as a bitcoin remittances mobile app, the San Francisco-based firm has steadily added more coins, crypto services – and attracted more venture funding –…

Abra Garners $5 Million from Stellar Development Foundation

The Stellar Development Foundation, or SDF, has allocated $5 million to crypto investment app Abra. The company now looks to incorporate the Stellar blockchain into its platform, as well as develop Stellar-based products.     “We believe Stellar’s platform is one of the most scalable and versatile cryptocurrency platforms available today,” Abra CEO and founder Bill Barhydt told Cointelegraph in an email, adding: “That combined with a similar shared mission of democratizing access to financial services means that our companies are strongly aligned in our services roadmap going forward.” Abra gives mainstream…

Stellar Foundation and Elliptic Ink Exclusive Deal

The Stellar Development Foundation, or SDF, a non-profit tasked with fostering Stellar’s network growth, unveiled new ties with crypto risk-management operation, Elliptic, on April 30.  The partnership sees the SDF calling on Elliptic’s crypto risk expertise for businesses and financial institutions based on Stellar blockchain, SFD director of communications Lauren Thorbjornsen told Cointelegraph in an April 30 email.  “These services are live and available for businesses on the network today as Elliptic launched the world’s first Stellar network transaction monitoring system,” she said. What does it all mean? Essentially, Elliptic now brings…

Stellar Cryptocurrency’s 190 Percent Rally Could Fizzle; Here’s Why

Stellar Lumens’ native cryptocurrency, XLM, hit a fresh local high, up more than 190 percent in just one month. The extraordinary price rally lacks concrete market fundamentals and relies more on macro crypto trends. XLM reversed after testing a long-term resistance area, hinting it could extend its pullback move as investors shift their focus on Bitcoin ahead of its mining reward halving. XLM, the native cryptocurrency of Stellar Lumens, rose to $0.0723 early on Tuesday to establish its highest peak since February 25. The gains came as a part of…

New Stellar Foundation Member Would Rather Buidl Than Hodl

International and Public Affairs professor, Ronaldo Lemos, a recent addition to the Stellar Development Foundation, or SDF, said his personal interests align more with industry growth than asset holding or trading.  “I’m more into using crypto as a tool to improve public institutions,” Lemos told Cointelegraph when asked about his crypto holdings and trading activities.    Lemos has worked with blockchain for governmental use cases The professor detailed a specific example of his blockchain endeavors, which includes working on signature verification via blockchain technology.    “I am one of the co-founders…

XRP, Stellar ‘Too Closely Held’ to Offer Fund Investors — Mark Yusko

One of cryptocurrency’s biggest hedge funds says it will keep avoiding XRP and Stellar (XLM) because their supply is too centralized. In an interview with YouTube series Thinking Crypto on April 10, Mark Yusko, CEO of Morgan Creek Digital, confirmed that its policy on the two altcoins would stay unchanged. Yusko: We don’t own XRP or Stellar “We exclude anything… that’s too closely held, so we don’t own Stellar and we don’t own XRP,” he told the show.  Yusko was referencing the joint fund that he set up with asset…

Stellar to Match XLM Donations to Six Non-Profits During April

The Stellar Development Foundation is matching donations in Lumens (XLM) made to six non-profits during April, including the Tor Project — the team behind ‘The Onion Router’ anonymizing browser. Donations will be matched up to a total of 1.9 million XLM (roughly $79,300), with the foundation launching the initiative by donating 100,000 XLM ($4,200) to each of the charities  Stellar to match donations to Tor Project On April 4, the Tor Project announced that the Stellar Development Foundation had pledged to match all XLM donations on a 1:1 basis this month.…

Grammy-Nominated Artist Akon to Launch Cryptocurrency on Stellar

Multi platinum-selling recording artist Akon has chosen to build his Akoin cryptocurrency ecosystem on top of the Stellar blockchain. Akoin co-founder and president Jon Karas said they chose to launch the project on Stellar due to sharing similar values. “Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global financial inclusion, particularly in areas such as Africa,” he explained in a Feb. 28 announcement. Part of Stellar’s mission is to help bank the unbanked and Akoin’s spokesperson highlighted the fact Stellar was already working with businesses…

German Bank to Offer Tokenized Securities Based on Stellar

One of the oldest banks in Europe is developing a special-purpose euro stablecoin that can facilitate private placements in tokenized securities. Munich-based Bank von der Heydt, established in 1754, announced Monday it had partnered with blockchain financial services provider Bitbond to help integrate tokenization into its established securitization platform. The partnership will allow the bank to tokenize digital securities onto the stellar blockchain, which it can offer to institutional clients via private placements. Tokenization can simplify equity sales and eliminate much of the associated frictional costs, according to the bank.…

CoinFlip Adds Support for Stellar XLM to Its 450 Crypto ATMs

Cryptocurrency ATM startup CoinFlip now allows customers to purchase Stellar Lumens (XLM) from its network of machines, according to co-founder and CEO Daniel Polotsky. The listing increases XLM’s availability in brick-and-mortar stores, Polotsky said. CoinFlip operates about 450 ATMs in gas stations and convenience stores across the United States, allowing customers to buy a variety of cryptocurrencies with credit cards. It also runs 40 two-way ATM locations where users can sell their crypto for hard cash USD. CoinFlip ATMs already offer customers access to bitcoin (BTC), litecoin (LTC), ether (ETH),…