SatoshiPay (Stellar/XLM) Listing on London Stock Exchange

Originally featured July 26th, 2018 Cryptocoinspy

Another day, another exclusive ground-breaking news story for the Stellar network. SatoshiPay – one of the first major projects to build on Stellar – has announced their plans for an IPO on the London Stock Exchange’s AIM, a market for growth companies.

SatoshiPay getting ready for IPO in London –  SatoshiPay (@SatoshiPay) July 26, 2018

By listing on the AIM, SatoshiPay will have access to a very liquid high-growth market, as well as institutional investors. If listed, they will be one of the first blockchain businesses to do so in London. Utilising the Stellar protocol allows them to facilitate digital micropayments for online content, providing a login-free, one-click nanopayment ecosystem, all the while taking advantage of Stellar’s incredibly quick settlement times and almost negligible fees.

The announcement of this IPO marks a fantastic development for both the SatoshiPay team and the Stellar network as a whole. Initially coded in just one month, Meinhard and his team have targeted the diminishing subscriptions models associated with major international news and media vendors. Their alternative form of revenue generation gets rid of cumbersome paywalls, allowing for the freer distribution of online content.

With regards to the potential IPO – Meinhard Benn, CEO SatoshiPay says:

“This is a giant leap for SatoshiPay, and I am extremely proud that the startup I co-founded in 2014 has grown into a company that, with the support of an amazing team and fantastic investors, is now approaching a stock market float. This is beyond my wildest dreams when starting SatoshiPay by writing a few lines of code at a kitchen table in a Berlin flat. In a way we are just getting started, and I am looking forward to the things we can achieve by taking SatoshiPay public.”

SatoshiPay was originally created to utilise Bitcoin before the spiralling costs and fees associated with the cryptocurrency made this business model untenable. In choosing to build on the Stellar platform they gave the biggest accolade they could – that Stellar was the rightful replacement for what Bitcoin was originally intended to be; an immutable, purely digital form of payment and value exchange.

XLM has seen a recent dramatic rise in speculative value, with the market clearly processing the torrent of good news stories. What will happen to the price of Lumens if and when Coinbase announce the go-ahead for listing the cryptocurrency is another story altogether. In any event, breaking stories for Stellar and its native currency seems set to continue for a while yet.

First Blockchain Security Token Exchange – Built on Stellar (XLM)

Originally featured July 13th, 2018 Cryptocoinspy

DSTOQ – a security tokens exchange ‘stealth project’- has recently launched its MVP as “the first fully licensed stock exchange for trading security tokens and investing in real-world assets using cryptocurrencies”.

Fully integrated with Stellar’s Decentralised Exchange, users will be able access peer-to-peer trading of security tokens, with settlement times between two to five seconds, all while utilising the liquidity of Stellar’s inbuilt DEX. According to DSTOQ, the trade settlement times of Stellar’s protocol make it 100,000 times faster than a traditional stock exchange.

The tokenization of real-world assets is an important step towards bringing cryptocurrencies into mainstream financial markets and we are proud to be the first company to have achieved this on a fully licensed platform. We are excited to launch the DSTOQ Exchange in the coming months and to fulfil our mission of providing high growth opportunities to investors worldwide.” – Craig McGregor, CEO

According to Craig McGregor, CEO of DSTOQ, they are the first exchange of its kind granted the relevant financial licence. Having secured €1.7 million in funding, the company developed the exchange in stealth mode before launching their MVP this month. The exchange marks a significant milestone achievement and validation of cryptocurrency-backed exchanges, as well as demonstrating the potential technological advantages that utilising blockchain networks can bring. The launch of DSTOQ is also a glowing endorsement and vote of confidence in the Stellar Protocol. 

The advantages and potential markets that DEX trading can create through the onboarding of traditional securities are many, with DSTOQ’s offering likely to attract the attention of further industry investment. Despite recent negative price movement for the cryptocurrency market as a whole, steady news stories of product and exchange development on the Stellar network show no signs of stopping, and look certain to build into Q3 and Q4.

Chain Inc. Acquired by Lightyear (Stellar – XLM) to become Interstellar

Originally featured September 10th, 2018 Cryptocoinspy

Just in – Chain Inc, a San Francisco startup, has confirmed its acquisition by Lightyear Corp., the for-profit company developing the Stellar network.

Both the Chain and Lightyear brand will be combined into a new company and re-named ‘Interstellar’. Chain’s customer base and products will be migrated onto Stellar’s public ledger, allowing for the issuance, exchange and management of all assets onto their blockchain network.

When we started a few years ago, our customers were not ready for a public network. Fast forward to three years, they’re willingness has gone up, and the maturity of the public networks has changed a lot,’

Adam Ludwin (CEO Chain/Interstellar)

Confirmation of this major acquisition will send shockwaves through the cryptocurrency markets, and marks a significant industry merger. Chain raised over $40 million in initial funding from Citi, Visa, Nasdaq and others, and brings a wealth of knowledge and connections. These industry ties will set off further institutional adoption rumours, and looks to be aligning with the Stellar network’s lightning network integration by end of year.

Equally excitingly for Stellar Lumens holders, Stellar X – a brand new front-end for its decentralised exchange, built by app veterans from Kickstarter and OkCupid – will also be included within Interstellar’s product portfolio, adding yet further validation to their technology. 

Proponents of the Stellar ecosystem and cryptocurrency aficionados alike should have little doubt of the monumental impact of this merger. The race for adoption is well and truly on.