Stellar (XLM) is a decentralized cryptocurrency and digital payment protocol that aims to provide fast, secure, and low-cost cross-border transactions. It was created in 2014 by the Stellar Development Foundation and operates on a consensus ledger, which allows for real-time settlement of transactions. Stellar’s native cryptocurrency, XLM, acts as a bridge currency between different fiat currencies and cryptocurrencies, facilitating cross-border transactions and reducing the need for pre-funding.
Stellar’s goal is to provide a global network of banks and payment providers with a fast, efficient, and cost-effective way to send money globally. Stellar’s unique approach to digital payments and partnerships with major institutions have made it a popular choice among businesses and individuals looking for fast, low-cost and secure cross-border transactions.