Cryptocurrency exchange platform, Shift Markets recently announced a new partnership with Lightyear which will be aiming at incorporating Stellar Lumens (XLM) into cryptocurrency markets. The information was passed via Twitter channel, which confirmed that the new collaboration will make it possible for everyone to access XLM directly without the need for the holders to purchase Bitcoin (BTC) at the beginning.
In addition, the source suggests that due to fiat currencies increasing in number, Stellar will have some other major benefits to have from this new partnership which will eventually have an influence on the value of the cryptocurrency. Above all this will measurably contribute into the chances of XLM being officially accepted by banks internationally.
Co-Founder of Shift Markets, Ian Mcafee commented on the recently announced deal stating: “this is an exciting partnership for us as many of our exchange clients would like to offer Lumens trading on their exchange. Their commitment to provide low-cost financial technologies in developing nations makes them a good fit for our market. We aim to increase Lumen liquidity and usage for both major and exotic fiats”.
Shift Markets platform gives opportunity to the users to access different markets worldwide where the field of cryptocurrencies is yet to be developed. In terms of this, the new partnership is also full of extra opportunities for Stellar which will potentially have the chance to enter in the markets where the key competitors will be fiat currencies.
From the other side, Directors of sales and partnership at Lightyear.io, Paul Arnatoff stated on the recent development: “we are very excited to partner with Shift Markets to help expand the utility and reach of the Stellar blockchain network. With Shift Market’s technology platform and the customers, they work with, Stellar users will now have access to a growing network of liquidity providers in new and emerging markets… With new on-ramps and off-ramps for fiat to virtual currency, the Stellar network continues to expand its mission of financial inclusion and reducing friction in cross-border payments”.