{"id":202720,"date":"2021-10-26T11:00:20","date_gmt":"2021-10-26T10:00:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=202720"},"modified":"2021-10-27T07:53:29","modified_gmt":"2021-10-27T06:53:29","slug":"cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa\/","title":{"rendered":"Cross-border Stellar (XLM) payments are soon coming to Europe and Africa"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Stellar Development Foundation (<\/span><a href=\"https:\/\/cryptoslate.com\/companies\/stellar-development-foundation\/\"><span style=\"font-weight: 400;\">SDF<\/span><\/a><span style=\"font-weight: 400;\">), the non-profit supporting the Stellar network, <\/span><a href=\"https:\/\/www.stellar.org\/press-releases\/flutterwave-enables-new-europe-africa-payment-corridors-via-stellar\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> yesterday that Flutterwave, a global payments technology company, has launched two new remittance corridors between Europe and Africa on the Stellar network.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Flutterwave would leverage the Stellar network and Stellar-based USD Coin to simplify remittances in Africa. Remittances are currently a multibillion-dollar market in the continent, and crypto usage could just account for a piece of that pie.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today we announced that <a href=\"https:\/\/twitter.com\/theflutterwave?ref_src=twsrc%5Etfw\">@theflutterwave<\/a>, a global payments technology company, has launched two new remittance corridors between Europe and Africa on the Stellar network with <a href=\"https:\/\/twitter.com\/tempo_eu?ref_src=twsrc%5Etfw\">@tempo_eu<\/a> <a href=\"https:\/\/t.co\/76tt3TPXWx\">https:\/\/t.co\/76tt3TPXWx<\/a><\/p>\n<p>&mdash; Stellar (@StellarOrg) <a href=\"https:\/\/twitter.com\/StellarOrg\/status\/1452636352088969220?ref_src=twsrc%5Etfw\">October 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><b>How does the Stellar move help?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Opening these new corridors will greatly benefit businesses focused on building more efficient, cost-effective remittance services, contributing to a stronger, more inclusive Pan-African digital payments infrastructure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As such, Flutterwave plans to extend Stellar-based capabilities to additional African countries as it continues to grow the number of currencies it supports.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt is more expensive to send money to sub-Saharan Africa than to any other region in the world,\u201d said Olugbenga Agboola, CEO at Flutterwave. \u201cOur new payment corridors on Stellar will allow us to continue expanding the Flutterwave network to bring all-important, cost-effective money transfer services to African business owners.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Connecting Stellar-based businesses like Flutterwave and TEMPO \u2014 which also has a significant, complementary user base in Africa \u2014 creates an efficient and affordable Pan-African payments infrastructure, supporting the Stellar Development Foundation\u2019s mission to create equitable access to the global financial system.\u00a0<\/span><\/p>\n<h2><b>Benefiting Africa<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With these payment rails in place, Stellar continues to establish itself as a mature, viable digital alternative to traditionally lengthy and expensive methods for sending remittances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cFlutterwave is doing important work in a region that has been historically underserved, and SDF is committed to helping them create a tangible impact on financial access and inclusion across the African continent and beyond,\u201d said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">She added, \u201cThis partnership marks a further step in our efforts to harness the power of technology to make financial services more inclusive and affordable for underbanked individuals worldwide.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stellar is a decentralized and scalable cryptocurrency made for financial products and services. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 5 million accounts as per data provided to CryptoSlate.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Stellar Development Foundation (SDF), the non-profit supporting the Stellar network, announced yesterday that Flutterwave, a global payments technology company, has launched two new remittance corridors between Europe and Africa on the Stellar network.\u00a0 Flutterwave would leverage the Stellar network and Stellar-based USD Coin to simplify remittances in Africa. Remittances are currently a multibillion-dollar market [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":202705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,37,76736],"tags":[62240],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cross-border Stellar (XLM) payments are soon coming to Europe and Africa<\/title>\n<meta name=\"description\" content=\"The Stellar Development Foundation (SDF), the non-profit supporting the Stellar network, announced yesterday that Flutterwave.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cross-border Stellar (XLM) payments are soon coming to Europe and Africa\" \/>\n<meta property=\"og:description\" content=\"The Stellar Development Foundation (SDF), the non-profit supporting the Stellar network, announced yesterday that Flutterwave.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-26T10:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-27T06:53:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/stellar-flutterwave.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/cross-border-stellar-xlm-payments-are-soon-coming-to-europe-and-africa\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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