StellarX, a decentralized encrypted free exchange based on Stellar, has left its beta phase and was launched completely on Friday, September 28th. The launch was announced in a blog post by Interstellar, the company behind the platform.
The exchange, originally announced in July this year, is based on the universal market of Stellar (XLM). Stellar is an open source protocol for cryptocurrency with fiat transfers. Its XLM cryptocurrency is currently the sixth largest, with a market capitalization of $ 4.8 billion, according to CoinMarketCap.
According to the latest press release, StellarX is positioned as a "true fiat onramp", as it allows users to deposit US dollars directly from a US bank account. In addition, the exchange shows digital tokens for a number of legal currencies, such as the euro, the Chinese yuan, the Hong Kong dollar, the British pound and others.
StellarX trading app interface. Source: StellarX Medium
In the blog post StellarX also revealed his plans to add digitized versions of other types of assets, such as bonds, stocks, real estate and commodities.
Confronted with Robinhood, a major US financial services provider that began offering zero-rate encryption in February this year, StellarX stressed that the use of its platform costs users "nothing" . This is due to the company's promise to "repay" [all network fees]".
In early September, Robinhood revealed plans to conduct an initial public offering (IPO), claiming it is subject to controls by the US Securities and Exchange Commission (SEC) and the Authority. regulatory financial regulation (FINRA), to ensure full compliance regulation.