Stellar (XLM) has yet to partner with Elon Musk to conquer the stars of the Milky Way. Instead, he decided to support Settle, which is already well established in Latin America. Lumens shines in Argentina and Brazil.
Stellar: 3 million for Settle after 3 investments
In a press release dated December 17, 2020, the foundation Stellar announced that it has made an investment in Stellar lumens for an amount of 3 million dollars within Settle Network.
Stellar had previously made 3 investments, in favor of DSTOQ, Abra and SatoshiPay.
According to the press release, this funding would be intended to develop the range of payment tools of Settle.
The platform Settle was designed on the network Stellar, so this is a logical initiative for both companies.
The CEO of Settle Network, Pablo Orlando, indicated that his company chose to rely on Stellar due to the global interoperability of their technology, which enabled them to launch the world’s 1st stablecoin exchange.
Stablecoins in Latin America
Settle Network, based in Argentina, was created in 2018 and seems to be well established in America Latin thanks to its financial infrastructure and fiat-to-crypto gateway.
With a growing demand for stablecoins, the company is well positioned to become one of the industry leaders, following the launch of its 1st global stablecoin, StableX.
The 2 main countries targeted by the company are ’Argentina and the Brazil, with the issuance of a peso-based stablecoin called ARST and another backed by the Brazilian real baptized BRLT.
The network provides crypto payments through theLatin America for users of these stablecoins.
The CEO of Settle, Denelle Dixon, indicated that his company shared the vision of Stellar by putting blockchain in the hands of those who need it most.
Settle stablecoins are ahead of CBDCs in Latin America. Regulators have given themselves the word to put a spoke in Diem’s wheels, ignoring threats that are equally dangerous to fiats hegemony, such as StableX, ART and BRLT. Stellar’s $ 3 million will enable Settle to either consolidate its gains in its current markets or develop its coverage area. Young Justice fans will say: more countries will fall under the control of the Light – those who ignore Night Wing and his teammates will have to Googling to understand.
Litecoin, welcome in the Silver Age