[The rise of Stellar (XLM): Tokenization of real-world assets becomes the focus]
One of the biggest risers in today’s cryptocurrency market is XRP and XLM, both founded by Jed McCaleb and often compared to each other. Both aim to facilitate fast and low-cost cross-border payments, breaking the disadvantages of the traditional banking system.
Following XRP’s recent achievements, Stellar’s token XLM became one of the top five gainers on CoinMarketCap. At the time of writing, XLM is trading at around $0.1042, up 4.05% in the past 24 hours, with daily trading volume having doubled to $112.03 million.
The increase in trading volume showed a significant increase in interest in XLM, helping it rebound from its lowest levels in a year.
Key Stellar developments this year include the growing number of financial institutions using Stellar for the tokenization of real-world assets (RWA). Deutsche Bank-backed infrastructure provider Taurus has expanded its digital asset custody and issuance capabilities to include the Stellar network. Taurus joins financial institutions such as Franklin Templeton, WisdomTree, and Circle in using Stellar for asset tokenization.
In addition, the Stellar Development Foundation has partnered with SheFi to empower women in the blockchain industry, increase gender diversity among Stellar developers, and create a more inclusive environment.
