A SDF with a significant investment fund to ensure its development: Stellar (XLM) sets out to conquer Latin America with millions of dollars in funding from the Stellar Development Foundation (SDF) fund in projects that can support the growth of cryptocurrencies in the region.
$ 15 million in Airtm’s wallet
On May 25, 2021, the Stellar Development Foundation Announces in a press release its $ 15 million support for Mexico-based crypto wallet provider Airtm. SDF wants to develop financial services and crypto adoption by Latin America.
Funding granted to Airtm is the most important awarded by the Homeless as part of its corporate fund. It will allow Airtm to integrate Stellar in 2022. The CEO of Airtm, Ruben Galindo Steckel, has indicated :
“Through this investment, and our integration into the Stellar network, we will continue to move forward in our mission to help consumers and businesses in developing countries access stable money that retains its value, is instantly transferable without fresh, compatible with the global economy, and can be withdrawn as local currency anytime and anywhere needed. ”
Airtm operates a digital wallet connected to the blockchain and banks, as well as P2P exchanges with a dollar account.
The P2P network ofAirtm allows individuals and businesses in countries with devaluing currencies and limited banking systems, to exchange local currency for cryptos and Airtm’s native dollar denominated currency, theAirUSD, at the free market rate.
Airtm registers 165,000 users in 2021, for more than 2.5 million transactions worth more than $ 200 million.
Homeless in search of international expansion
The corporate investment fund of the Homeless invested in several projects in 2021. He invested $ 5 million in Wyre, and allocated $ 750,000 to the Nigerian payment platform
The Homeless seems to favorLatin America in its development plans. The region is heavily dependent on cash payments – 91% of transactions in Mexico will be according to the SDF, still carried out in cash by 2030.
The Mexico seems to be fertile ground for cryptocurrency adoption, with the local exchange Bitso which becomes the 1time crypto platform valued at one billion dollars in Latin America.
The Homeless also improves the interoperability of the XLM with other blockchains. It announces on February 2, 2021, the integration ofUSD Coin at XLM.
Airtm wants to transform Latin America into a single economic region similar to the euro zone. Money is the lifeblood of geopolitics, and cryptocurrencies are reshaping the world.
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