The Stellar Development Foundation (SDF), a non-profit organization that supports the development and growth of the Stellar network, is joining Stablecoin Standard as an industry partner. This partnership will support the adoption of stablecoins through education, resources, and shared initiatives.
The Stellar blockchain is already trusted today by a range of global financial institutions for tokenization of assets from fiat currencies to commodities to securities. Stellar was designed for issuing digital assets like stablecoins, before stablecoin was even a word. Native features like speed, low cost, scalability, and built in asset control features make Stellar an ideal choice for issuing stablecoins.
“Asset issuers can benefit from the Stellar network’s powerful, built-in features that allow the issuance of stablecoins simply and easily at the protocol level and at a low cost,” said SDF Chief Legal and Policy Officer Candace Kelly, who already serves as an advisory board member to Stablecoin Standard. “Stablecoins enable the use of blockchain technology to address real-world challenges in the existing financial system. Partnering with Stablecoin Standard to support the adoption of stablecoins will help advance the Stellar Development Foundation’s mission to broaden digital financial access across the globe.”
Stablecoin Standard is the industry body for stablecoin issuers globally. Founded in 2022, the Stablecoin Standard was created to give the industry a shared voice and engage with external stakeholders to promote the acceptance of stablecoins through education, resources, shared initiatives, and the StableCheck™️ scheme. Through the organization, stablecoin issuers can share best practices with each other and leverage their shared knowledge and positions to create standards for stablecoin issuers.
“Stablecoin Standard found its roots in sharing best practices and use cases amongst issuers to expedite blockchain’s adoption in the future of finance” explains Christian Walker, Chairman & Co-Founder at Stablecoin Standard. “Interoperability challenges are often blockers to collaborative innovation, so we are delighted to be working alongside the Stellar Development Foundation to explore stablecoin based remittances on the Stellar blockchain. The decision to work with Stellar was clear, they have all the essentials of being low cost, super fast and battle tested, however they also have the reach into areas of the globe where stablecoins can make a real positive change when it comes to financial inclusion.”
About Stellar
Stellar is more than a blockchain. Powered by a decentralized, fast, scalable, and uniquely sustainable network made for financial products and services and a thriving and passionate ecosystem that includes a non-profit organization driven by a mission, Stellar is paving the path to unlock the world’s economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to issue assets, and to send and convert currencies in real time creating real world utility. Founded in 2014, the Stellar Development Foundation (SDF) supports the continued development and growth of the Stellar network and also serves the ecosystem of NGOs, corporations, universities, small businesses, governments, and solo entrepreneurs building on the Stellar network through tooling, funding and strategic collaborations. Together, Stellar is where blockchain meets the real world.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit stellar.org/foundation.
About Stablecoin Standard
Stablecoin Standard is the industry body for stablecoin issuers globally, currently representing 17 currencies from 18 issuers and growing. Stablecoin Standard has 3 main business functions, including business development & best practice sharing, the issuer’s standards themselves, and engagement with policymakers on the topics of stablecoin regulation & education.