Coinbase Pro, the cryptocurrency exchange platform supported by Coinbase, announced on March 13th that it will soon support Stellar Lumens (XLM). Deposits for XLM will begin after 1:00 PM Pacific Time on March 13th, with trading enabled approximately 12 hours later.
Once sufficient liquidity is established, trading pairs for XLM/USD, XLM/EUR, and XLM/BTC will launch in phases. The service will be available in most jurisdictions where Coinbase operates, excluding New York, with potential expansions in the future.
What Is Stellar Lumens (XLM)?
Stellar (XLM) originated as a fork of Ripple’s blockchain but evolved with a distinct consensus algorithm called the Stellar Consensus Protocol (SCP). Unlike Ripple, which primarily serves financial institutions, Stellar focuses on individual users, offering low-cost, cross-border payments through partnerships with global payment platforms—especially in underserved regions.
👉 Discover more about Stellar’s ecosystem
Key Differences Between Stellar and Ripple
- Target Audience: Stellar serves individuals; Ripple caters to banks.
- Decentralization: Stellar’s SCP is more transparent and decentralized.
- Use Cases: Stellar facilitates microtransactions and remittances in developing economies.
Recent Developments
1. SatoshiPay Acquisition (March 7th)
German media firm Börsenmedien AG acquired SatoshiPay, a crypto micropayment startup integrated with Stellar. This enables users to purchase content using XLM.
2. SIX Exchange ETP Expansion (March 12th)
Switzerland’s SIX Exchange plans to list ETPs for XLM alongside XRP, Bitcoin Cash, Litecoin, and EOS by late 2024.
Market Performance
- Price Surge: XLM peaked at $0.107 (March 11th), a two-month high.
- Market Cap: $1.63 billion (Ranked #9 at the time).
- Trading Volume: $260 million daily.
While short-term trends remain uncertain, Stellar’s long-term potential is bolstered by its collaboration with IBM, positioning it as a strong contender in blockchain-based financial solutions.
FAQs
1. When will XLM trading start on Coinbase Pro?
After deposits begin on March 13th, trading will launch in phases ~12 hours later.
2. Which trading pairs will be available?
Initially: XLM/USD, XLM/EUR, and XLM/BTC.
3. Is XLM available in New York?
No, due to regulatory restrictions.
4. Why is Stellar considered more decentralized than Ripple?
Stellar’s SCP allows open participation in consensus, unlike Ripple’s validator-based system.
5. What’s Stellar’s primary use case?
Cross-border payments and financial inclusion in underbanked regions.
For real-time updates on XLM and other cryptocurrencies, follow trusted sources and community discussions.