With its outstanding success in the diversity of off-ramps available for digital property, Stellar, the decentralized and open source blockchain project, is making a significant impact in the cryptocurrency market.
According to a recent blog post by the Stellar team, the project currently has the most cryptocurrency off-ramps on its blockchain. It even outperformed the renowned Bitcoin (BTC) by a factor of three or more. The announcement caused a jump in the challenge’s native XLM token, which has increased by a significant 14.39% since the news broke.
What Is the Reason for Stellar Off-Ramp’s Rule?
Customers can withdraw USDC and change it into fiat foreign currency via Stellar’s “fast, reasonably priced, and seamless” off-ramp services. According to Stellar’s blog, by offering enterprise-grade services, it hopes to close the gap between the on-chain and off-chain economies.
Furthermore, the challenge’s strategic focus on off-ramps is online with its goal of lowering barriers for the underbanked and unbanked communities. especially in developing countries where access to traditional banking and digital infrastructure will be constrained.
Meanwhile, the challenge has worked with major players like IBM and Stripe to support its approach. With both on-ramps and off-ramps, the community currently has a sizable 475,000 cash-to-crypto stations worldwide.
Stellar’s (XLM) Value Increases
According to CoinMarketCap, the current value of XLM is $0.1613. It has been in a bullish trend for more than a month, which has resulted in a gain of 68.34%. The volume of goods bought and sold increased by 96.19% to $366,664,656.