New York, Dec. 11, 2018 (GLOBE NEWSWIRE) AlphaPoint, a leading blockchain company focused on enabling institutions to launch, scale, and operate digital asset exchanges globally, today announced that through its collaboration with the Stellar Development Foundation that AlphaPoint now supports lumens (XLM), the native asset of the Stellar network, for its clients, including depositing, withdrawal, custody, and trading.
AlphaPoint supports over a dozen protocols and hundreds of coins. This integration enables more than 100 AlphaPoint software powered exchanges to support lumens for deposit, withdrawal, custody, and trading with fiat and cryptocurrency pairings. More than 10 exchanges in AlphaPoint’s growing network have piloted support and already list XLM for trading.
The Stellar Development Foundation helps build and maintain Stellar, an open network that allows any currency or asset to be digitally issued, transferred, and exchanged over the internet. Lumens, Stellar’s native currency, are required to create accounts and complete operations on the network. Lumens serve as a bridge asset between pairs of different currencies and contribute to the network’s ability to move money around the world and to conduct transactions between different currencies quickly and securely.
“Our goal is to enable our clients to provide access to digital assets globally and we are thrilled to now support Stellar Lumens,” said Igor Telyatnikov, cofounder and President, AlphaPoint. “AlphaPoint shares in Stellar’s vision of bringing the world together by creating a bridge between traditional finance and cryptocurrencies and we are also excited by the many projects happening in the Stellar ecosystem.”
“We’re excited about our collaboration with AlphaPoint as it will increase access to Stellar, bring more liquidity to XLM, and ultimately help grow our ecosystem,” said Lisa Nestor, Director of Partnerships, Stellar Development Foundation.
AlphaPoint’s proprietary distributed ledger technology supports a highly secured venue and the ability to process nearly one million transactions per second. Its white label software customers have the ability to integrate a bevy of coin offerings and pairings through its many partnerships with digital asset companies.
About Stellar
Stellar is an open distributed ledger network that allows any currency or asset to be digitally issued, transferred, and exchanged over the internet. The Stellar protocol has a builtin order book, pathfinding algorithm, and network token that together allow assets to move seamlessly between participants. Transactions on Stellar are validated by decentralized nodes that anyone can run, yet the network is highly scalable and energy efficient thanks to a novel consensus system called Stellar Consensus Protocol (SCP). SCP was developed by Professor David Mazières, who leads the secure computer systems group at Stanford and is the Chief Scientist at the Stellar Development Foundation. Learn more at www.stellar.org.
About The Stellar Development Foundation
The Stellar Development Foundation (SDF) is a nonprofit organization founded in 2014. SDF helps build and maintain Stellar, a free, opensource network that connects diverse financial systems and lets anyone build low cost financial services. Additionally, SDF supports the Stellar community through education, grant programs, and technical leadership of Stellar’s open source projects. The Foundation is obligated by its charter to distribute 95% of the network’s token, lumen (XLM), to increase access to the network and grow the ecosystem.
About AlphaPoint
AlphaPoint is a global financial technology company helping institutions make illiquid assets liquid. Through its secure, scalable, and customizable distributed ledger platform, AlphaPoint enables customers to digitize assets as well as launch and operate markets with its white label exchange and asset digitization technology. AlphaPoint and its award winning blockchain technology has helped institutions discover and execute their blockchain strategies since 2013. For more information, please visit https://alphapoint.com and follow @AlphaPointLive.
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