Interstellar, the company behind the open-source, decentralized protocol for digital currencies Stellar, has announced the official launch of their zero-fee decentralized crypto exchange StellarX in a blog post on Medium last September 28.
StellarX was first revealed on July 6 of this year. Based on Stellar’s universal marketplace, the platform is an open-source protocol for cryptocurrency to fiat transfers. Its native token, XLM, is one of the largest cryptocurrencies by market volume, with a market cap of $4.8 Billion according to CoinMarketCap.
StellarX bills itself as a “real fiat onramp,” meaning it allows users to deposit US Dollars directly from a bank account. The exchange also shows digital tokens for other fiat currencies, including the euro, Chinese yuan, the Hong Kong dollar, the British pound, and several others.
Stellar also revealed plans to add digitized assets aside from cryptocurrencies, such as stocks, bonds, real estate, and commodities, side-by-side with essential currencies.
StellarX also took a swipe at other free trading platforms in their announcement. The firm states that they refund all network costs, which no other decentralized exchanges do.
The firm says that:
“We’ve even written our own fee out of our agreements with deposit partners, who, we’ve found, often put in a percentage by default. We aren’t here for a cut. We’re here to redefine how assets move around the world.”
Stellar plans to add even more features later on, including a mobile site, portfolio performance reporting, and even optional KYC via SEP 0009 & 0010, to name a few
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