The White Company and Fintech Ltd teamed up with Stellar (XLM) network to permit users to perform deposits and withdrawals in fiat currencies such as USD, EUR, and GBP through White Standard (WSD) stable coins on the Fintech’s Interstellar Decentralized Exchange based on Stellar DEX. The Interstellar DEX would be the first such exchange in the world.
On the other hand, the White Standard (WSD) is the world’s first and only stable coin operating on the Stellar (XLM) protocol and is backed up by USD with deposits audited on a monthly basis. WSD provides immediate and effective transactions, while it is easily implementable into the actual Stellar and Stellar DEX platforms.
Additionally to USD-backed stable coin White Standard (WSD), the White Company plans to launch EUR-backed and GBP-backed coins on the Interstellar DEX base on the Stellar network.
That would be a great achievement, Stellar (XLM) network proving once again its efficiency as a bridge between fiat currencies and cryptos.
How could the new partnerships help Stellar (XLM) network?
White Company and Fintech Ltd partnered with Stellar (XLM) network to offer USD, EUR, and GBP deposits and withdrawals via White Standard (WSD) stable coins.
“Our goal is to unleash crypto’s real-world potential, and this partnership with Interstellar is the first of many steps in not just bringing the White Standard stable coins to the masses, while increasing the ease for consumers to purchase Stellar (XLM) with USD, GPB, and the Euro,” explained White Company CEO, Elizabeth White.
On the other hand, Fintech’s Interstellar DEX, a decentralized exchange based on Stellar (XLM) network and Stellar DEX protocol, will be the engine that motorizes the trading of fiat currencies with WSD stable coins. Also, the platform’s clients can use the White Standard stable coins to get Stellar (XLM) tokens.
Stellar network and its DEX protocol would benefit not only because its XLM token would be purchased much easier but also as a blockchain which proves stability and reliability for real-world uses.