Stellar buys a minority stake in MoneyGram

The Stellar Development Foundation acquires a minority stake in major remittances platform MoneyGram. The Stellar Development Foundation (SDF) — the organization behind the Lumens (XLM) blockchain — announced on Aug.

Timeline of Stellar

A popular cryptocurrency investor known for his disdain for the native token of the XRP Ledger, $XRP, has voiced an altered viewpoint on the digital currency. The analyst, who posts under the Virtual Bacon pseudonym, cited its perceived underwhelmed performance and concerns surrounding XRP's centralization for being against it.

Stellar Development Foundation (SDF) becomes a minority investor in MoneyGram during its go-private deal with Madison Dearborn Partners. This move strengthens SDF's role in MoneyGram's digital journey and fintech innovations.

Despite the temporary consolidation in the cryptocurrency market, Stellar (XLM) has been recording gains on all of its charts, growing its value nearly 100% since the year's turn and sparking hopes it could overtake its all-time high (ATH) and even proceed toward $1.

With OpenAI launching its artificial intelligence (AI) tool ChatGPT, the ensuing hype has given birth to other powerful AI platforms, including Google Bard, which has proven itself useful in cryptocurrency market analysis, including comparisons between assets like Stellar (XLM) and XRP (XRP).

In correlation with the recent downward trajectory observed in XRP's price performance over the past week, Stellar (XLM) has similarly experienced a diminishing trend, mirroring the prevailing bearish sentiment in the cryptocurrency market.

The price of Stellar (XLM) has experienced a decline since reaching its yearly high on July 13. However, it's currently trading within a continuation pattern, which indicates the potential for a breakout in the future.

Amidst the artificial intelligence (AI) frenzy ignited by OpenAI's ChatGPT, the tech landscape has witnessed fierce competition among industry giants eager to unveil their own cutting-edge AI products. One such formidable contender is Google Bard, a generative AI offering brought to the fore by Alphabet (NASDAQ: GOOGL).

At a time when Bitcoin (BTC) and most altcoins are wriggling out of their bearish dive with slight gains, Stellar (XLM) is notably charting an impressive rally across the board. The cryptocurrency is trading at a price of $7.96, up by 10.2% at the time of writing.

The much-awaited TOKEN2049, Asia's leading Web3 and crypto conference, is back in Singapore with a bang. Scheduled to take place from 13th to 14th September 2023 at Marina Bay Sands, this year's event promises to be the largest of its kind, attracting over 10,000 attendees from more than 3,500 companies.

Bitso, a leading cryptocurrency exchange in Latin America, has partnered with Stellar Development Foundation to enhance the global payment corridor between Latin America and the rest of the world.