Stellar XLM (XLM) is available for trading on the BEQUANT Exchange

NEW YORK, NY / ACCESSWIRE / May 18, 2020 / Stellar is an open source payment system whilst its currency is the Lumen (XLM). Founded by two well-known figures in the tech world, Jed McCaleb and investor, Kim Joyce; the purpose of the payment system is to connect financial institutions in emerging markets, bringing technology to the forefront of financial services in developing countries.

Stellar uses a federated byzantine agreement (FBA) algorithm to enable quicker transactions as they don't need to be approved by the mining network. Using Stellar's protocol, no third party or ‘middleman' is required to transfer funds. The system enables those who don't have a bank account to enjoy basic banking services.

The Stellar protocol has overseen a number of stablecoins issued on the system. Both IBM and Deloitte are utilising the Stellar protocol to facilitate cross border payments and in the case of Deloitte, creating a cross border payment application alongside 30 banks.

CEO of BEQUANT George Zarya said: 'Stellar XLM is a successful protocol in the digital assets space and shows social responsibility to the global financial ecosystem. Stellar XLM remains within the top 15 cryptocurrencies globally so we are delighted with its listing on our exchange. XLM will enhance the trading experience for our users.'

BEQUANT will list XLM/BTC and XLM/USDT pairs upon release. XLM is one of three recent listings including Ripple's XRP and BTC Short (BTCS).

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Located in London and Malta, BEQUANT is a one stop solution for professional digital-assets investors and institutions. Our breadth of products include prime brokerage, custody, fund administration enhanced by an institutional trading platform providing low-latency, liquidity and direct market access.

The BEQUANT team is composed of experts from institutional, retail and digital financial services with experience in banking, derivatives, electronic trading and prime brokerage.

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SOURCE: BEQUANT