SHIFT Markets Launches New Accord with Stellar

SHIFT Markets has once again announced a new partnership, this time with Lightyear to support the integration of Stellar technology. SHIFT presently services upwards of sixty crypto exchanges on a global basis, with the most recent accord greatly enhancing the adoption of Stellar’s lumens (XLM).

SHIFT Markets has been active in the cryptocurrency space, as it helps provide a singular point of entry to access many regions where cryptocurrencies have not yet been fully adopted. This includes an emphasis in emerging markets, with XLM now being able to be traded directly against multiple fiat currencies.

Time to buy the dip?

Ian McAfee, CEO, SHIFT Forex

Ian McAfee, SHIFT’s CEO and Founder, commented on the deal, “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.”

The deal helps address a key need in the Stellar financial ecosystem, whereby fostering the acquisition of lumens. Typically, to do so, users must first purchase BTC or ETH through a fiat gateway, and then send it to a crypto exchange, where they can trade it for XLM. However, this step is largely a roadblock, stymying its adoption on an even larger scale. Removing this critical step will aim to help expand Stellar network.

“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,” explained Paul Arnautoff, Director of Sales and Partnerships at Lightyear.io.

“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,” he added.

Back in June, TRON cryptocurrency network has announced a partnership with crypto exchange builder SHIFT Markets to bring TRX (TRON’s token) trading to an increased number of global currency markets.