Crypto company Interstellar introduces Stellar-based zero-fee decentralized cryptocurrency exchange StellarX. The exchange was launched on Friday, 28 September.
1 October 2018 – Stellar-based zero-fee decentralized cryptocurrency exchange StellarX was officially launched last Friday, September 28. The exchange has left its beta phase and is now ready to accept new traders.
Zero-fee Cryptocurrency Exchange StellarX
The new blog post by Interstellar, the company behind the platform, states that the exchange is based on Stellar’s (XLM) universal marketplace. The information about launching the exchange has been revealed earlier this year.
Stellar is an open-source protocol for cryptocurrency to fiat transfers. Stellar cryptocurrency XLM is now the 6th largest, with its market cap standing at $4,897,354,453. According to the latest press release, StellarX positions itself as a “real fiat onramp.” It enables its users to deposit US dollars directly from the US bank account. Additionally, the exchange shows digital tokens for a number of fiat currencies, including Euro, Chinese yuan, Hong Kong dollar, the British pound, and some others.
In its blog post, StellarX also stated that it plans to add digitized version of other kinds of assets. These include bonds, stocks, real estate, and commodities.
Earlier this July, AtoZ Markets reported that Stellar reportedly became the first distributed ledger protocol to obtain Sharia compliance certification in the money transfer and asset tokenization sector. The official blog post on Stellar’s website states that the Shariyah Review Bureau has assessed the capabilities and use cases of Stellar. The company also states that the international Sharia advisory agency has released an order that enables the deployment of Stellar technology in Islamic financial institutions.
Robinhood also Offers zero-fee Crypto Trading
StellarX has compared itself to a major US financial services provider Robinhood that commenced offering zero-free cryptocurrency trading earlier this February. Stellar-based cryptocurrency exchange highlighted that using its platform costs users “nothing.” This is due to the StellarX’s promise to “refund [all network fees].”
In September, Robinhood revealed its plans to conduct an initial public offering (IPO), stating that it is undergoing audits by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This is done in order to ensure the full regulatory compliance.
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