- Stellar Lumens (XLM) Now Accepted at a Major European Digital Publisher
- The partnership is a huge boost for the adoption of XLM en masse
- Currently, XLM trades at $0.82 making it a good buy
According to a report by SludgeFeed published on February 3, 2019, SathoshiPay, a startup that offers the option to pay in Stellar Lumens (XLM) to online content creators has inked a partnership with Axel Springer. The allegiance opens up a huge window for the adoption of XLM as a means of payment given that Axel Springer is one of the largest digital publishers in Europe.
Huge Boost for XLM
SatoshiPay is a popular XLM payment gateway that eliminates the need for a middleman or an intermediary during the transfer of value in Euros or Dollars. The company tweeted on January 31, 2019, their cooperation with Axel Springer.
— SatoshiPay (@SatoshiPay) January 31, 2019
Per sources close to the matter, SatoshiPay’s payment solution will be integrated into Axel Springer’s line of offerings to boost XLM’s user acceptance en masse.
Sharing his thoughts on the newly christened partnership, Meinhard Benn, the founder, and CEO of SatoshiPay said:
“We are excited to work with Axel Springer, who recognize the immense potential of blockchain technology. As one of the few companies with a market-ready blockchain payment solution, we are focused on bringing this technology from laboratories into the mainstream. This has been SatoshiPay’s mission since its foundation in 2014, and a partner with the tremendous reach of Axel Springer gives us the opportunity to deliver on this promise.”
“We would also like to thank the Stellar Development Foundation, which supports this cooperation with a seven-figure partnership grant.”
Similarly, Dr. Valentin Schöndienst, Senior Vice President of New Business, Axel Springer SE, shared his enthusiasm regarding the newly forged partnership. He highlighted the tremendous potential of blockchain technology in the field of online publishing and how a transparent and trustless transaction mechanism can help online content creators.
A Good Time to Buy XLM?
The current bear market has forced many of the budding and small startups to go out of business. The pessimistic market sentiment has also had a major impact on the price of top cryptocurrencies like BTC, ETH, LTC, BCH, and XLM, among others. However, the charts suggest that XLM has had it much worse when compared to other cryptocurrencies.
At the time of writing, the price of XLM sits at $0.081; a figure the altcoin hasn’t seen since late November 2017. The 24-hour volume of the altcoin is hovering around mid-100 million figures since the last spike observed in September 2018.
Given the flat price movements, one could expect a breakout for XLM in short-term. XLM is one of the better buys in the current market scenario and could well go on a mini-rally of its own, akin to the one TRX has had since the beginning of 2019.