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Multi-Asset Class Trading on StellarX to Launch This Summer

With the evolution of the digital economy, cryptocurrency and traditional derivatives find common ground. Set to launch summer 2018, StellarX brings traders a universal marketplace for peer-to-peer multi-asset exchange.

A New Type of Exchange

Until now, cryptocurrency has almost exclusively traded on exchanges that only offer digital assets. Although platforms such as Uphold and eToro exist in offering several asset classes, there is yet to be a service that utilizes blockchain-based peer-to-peer software for both cryptocurrency and traditional asset class trading.

Announced on June 5, payments-oriented blockchain Stellar Lumens is launching StellarX – a “universal marketplace” for free peer-to-peer trading.

In an industry-forward mission, StellarX plans to reveal a trading platform based on their distributed ledger technology– coined the Stellar universal order book, to achieve immediate settlement times and commission-free exchange.

Stated on the StellarX website:

“Transactions settle in seconds, and trading on StellarX costs nothing. We refund your network fees and we even return Stellar’s automatic 1% APR inflation to our users, keeping none of the weekly airdrops for ourselves.”

The platform confirms that cryptocurrency, fiat, bonds, and commodities will be available for trading and ensures security of asset ownership through a wallet that is controlled solely by the user.

“StellarX is built on Stellar’s universal order book. Trades happen directly between traders. No middlemen, no miners. You trade from your own wallet and keep total control of your keys.”

To ensure initial and consistent liquidity, StellarX also mentioned that market maker rewards in the form of 100k XLM will be distributed to top market makers on a weekly basis.

In the midst of emerging security token exchanges, StellarX joins a new consortium of nascent asset marketplaces. StellarX is yet to release a public launch date but plans to release the platform in the summer of 2018.

Stellar | XLM

Updated: Nov 7 at 2:15 am PDT
$0.20
-5.19%

Stellar, currently ranked #7 by market cap, is down 5.19% over the past 24 hours. XLM has a market cap of $3.76B with a 24 hour volume of $36.17M.

Chart by CryptoCompare

Stellar is down 5.19% over the past 24 hours.

Cover Photo by Christian Nielsen on Unsplash

Posted In: , Altcoins, Crypto Exchanges, Price Watch, Trading

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Jonathan Kim
Author

Jonathan Kim

Former Journalist @ CryptoSlate

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

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