The Stellar Development Foundation (SDF) has announced a strategic partnership with Stablecoin Standard, aiming to advance the adoption of stablecoins through education, resources, and collaborative initiatives.
The Stellar Development Foundation (SDF), a non-profit organization dedicated to the growth of the Stellar network, has joined forces with Stablecoin Standard as an industry partner. This partnership, announced on May 23, 2024, in San Francisco, is set to support the widespread adoption of stablecoins by providing essential education, resources, and shared initiatives.
Stellar, a trusted blockchain by global financial institutions, excels in the tokenization of various assets, including fiat currencies, commodities, and securities. The Stellar network’s inherent features—speed, low cost, scalability, and built-in asset control—make it a preferred choice for issuing stablecoins.
“Asset issuers can benefit from the Stellar network’s powerful, built-in features that allow the issuance of stablecoins simply and easily at the protocol level and at a low cost,” said Candace Kelly, SDF Chief Legal and Policy Officer and advisory board member of Stablecoin Standard. “Stablecoins enable the use of blockchain technology to address real-world challenges in the existing financial system. Partnering with Stablecoin Standard to support the adoption of stablecoins will help advance the Stellar Development Foundation’s mission to broaden digital financial access across the globe.”
Founded in 2022, Stablecoin Standard serves as the industry body for stablecoin issuers worldwide. It promotes the acceptance of stablecoins through education, shared initiatives, and the StableCheck™️ scheme. The organization facilitates the sharing of best practices among issuers and leverages collective knowledge to establish industry standards.
Christian Walker, Chairman & Co-Founder of Stablecoin Standard, highlighted the significance of this partnership: “Interoperability challenges are often blockers to collaborative innovation, so we are delighted to be working alongside the Stellar Development Foundation to explore stablecoin-based remittances on the Stellar blockchain. The decision to work with Stellar was clear—they have all the essentials of being low cost, super fast, and battle-tested, and they also reach areas where stablecoins can make a real positive change in financial inclusion.”
The collaboration between SDF and Stablecoin Standard aims to streamline stablecoin issuance and adoption, fostering greater financial inclusion globally. By leveraging Stellar’s robust blockchain infrastructure and Stablecoin Standard’s industry expertise, the partnership is poised to address significant challenges in the financial sector.
Stellar is a decentralized, fast, scalable blockchain network designed for financial products and services. Founded in 2014, the Stellar Development Foundation (SDF) supports the network’s growth, aiding NGOs, corporations, universities, small businesses, governments, and entrepreneurs building on Stellar. The network provides a platform for issuing assets and facilitating real-time currency conversion, unlocking economic potential through blockchain technology.
Stablecoin Standard is the global industry body for stablecoin issuers, representing 17 currencies from 18 issuers. The organization focuses on business development, best practice sharing, establishing issuer standards, and engaging policymakers on stablecoin regulation and education.
The partnership between the Stellar Development Foundation and Stablecoin Standard marks a significant milestone in the stablecoin industry. By combining their strengths, they aim to enhance the adoption and utility of stablecoins, ultimately driving financial inclusion and innovation.
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