AlphaPoint, a blockchain company focused on enabling institutions to launch, scale, and operate digital asset exchanges globally, announced on Tuesday through its collaboration with the Stellar Development Foundation it now supports lumens (XLM), the native asset of the Stellar network, for its clients, which includes depositing, withdrawal, custody, and trading.
AlphaPoint reported it supports over a dozen protocols and hundreds of coins. The integration will notably enable over 100 AlphaPoint-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. It was also revealed:
“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.”
While sharing more details about the support, Igor Telyatnikov, Co-Founder and President of AlphaPoint, stated:
“Our goal is to enable our clients to provide access to digital assets globally and we are thrilled to now support Stellar Lumens. 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.”
Lisa Nestor, Director of Partnerships at Stellar Development Foundation, went on to add:
“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.”