Ukraine, DeFi, and here’s what’s next for ‘scale-targeting’ Stellar and XLM
XRP and Stellar’s XLM are both among the market’s top 40 cryptocurrencies – and rival siblings too. The link between them is technologist Jed McCaleb, who founded Ripple and then left to co-found the Stellar Development Foundation [SDF].
Analysts, journalists, and traders admittedly love business rivalries and a dramatic backstory, especially with the SEC v. Ripple Labs lawsuit heating up the courtroom. But, while XRP makes headlines, crypto-watchers shouldn’t lose sight of XLM. Especially since it also has ambitious plans to transform cross-border payments.
To that end, AMBCrypto recently interviewed Stellar Development Foundation spokesperson Carolyn Yi to learn more about Stellar, XLM, and the SDF’s future targets.
Ripple appears to reign supreme in the area of CBDCs, having announced digital currency partnerships with Bhutan and Palau. Meanwhile, Stellar is often linked to Ukraine’s electronic hryvnia digital currency. However, there’s a catch. Yi explained,
“It’s important to specify that the electronic hryvnia pilot is not a CBDC. It will be privately issued e-money on blockchain technology, built under Ukraine’s current e-money legislation.”
She added,
“The issuance of a national digital currency would only take place under the authority of the National Bank of Ukraine.”
In that case, when can investors expect Stellar to help develop a true blue CBDC? After all, the company has released a whitepaper on the matter, so surely it must be on the agenda. Yi confirmed that “conversations are ongoing,” but that no more could be shared for the time being.
Coming back to the e-hryvnia, however, AMBCrypto learned that TASCOMBANK is working to build and test a “regulated private electronic hryvnia on Stellar.” Following this,
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