Just in from the latest Stellar Quarter ReportSDF’s Business Development team saw significant traction in bringing more anchors onto the Stellar network in Q4. Perahub, a majority owned subsidiary of the Union Bank of the Philippines, signed and announced they are joining the network, which will enable cash out to over 3,000 points of sales in the Philippines, one of the world’s largest receiving markets for remittances.In parallel, Chynge, a digital cross-border payments business based in Singapore, is onboarding as an anchor and will serve as the sending partner for the Singapore/Philippines remittance corridor. SDF also signed an anchor agreement with Stably, a US-based asset tokenization platform, to enable easy on and off ramps for USDC as well as their own USD stablecoin in Q1 2021.For those who aren’t aware, Unionbank is one of the top 10 largest banks in the PhilippinesThe Philippines (35.2 billions) is also among the top 5 countries that hold the largest remittances transactions.Furthermore, majority of Filipinos do a lot of transactions online through digital wallets like Perahub, Coins.ph(another anchor on Stellar Network providing Philippine Peso Stablecoin), and Gcash.More great news:In Q4 of 2020, the issuance of four new stablecoins were announced to the Stellar network.● Argentine Peso (ARST) and Brazilian Real (BRLT), issued by Settle Network: The first stablecoins for Argentina and Brazil went live in November of 2020. Both are fully-backed by domestic currencies and preserve close 1:1 rate between them and local currencies, involving bank grade KYC verification, AML controls and blockchain monitoring.● Euro (EURB), issued by Bitbond and Bankhaus von der Heydt: In December 2020, Bitbond and Bankhaus von der Heydt (BVDH) announced the first stablecoin issued directly by a banking institution on Stellar and one of the first of its kind in the crypto market. The Euro (EUR) stablecoin (EURB) is live and available today on the Stellar network.● US Dollar (USDC), issued by Circle: The Centre Consortium announced Stellar as an official chain for USDC, one of the world’s leading compliant and regulated digital dollar stablecoins. It is expected to be live in Q1 of 2021.TLDR: Stellar is being used in real life by moving money from Singaporean Dollar to Philippine Peso. More stablecoins are added to Stellar including Argetine Peso, Brazilian Real, and Euro while USDC is expected to come to Stellar this Feb 2021.If you want to buy XLM, download Lobstr or Solar(non-custodial) or Anchorusd(custodial you earn interest on your XLM) and Coinbase.You can also do it via exchange like Binance, Kraken etc.
Submitted January 22, 2021 at 07:17AM
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