Stellar (XLM) Support Added to TrustWallet by Binance
The addition of XLM follows the goal of the Trust Wallet app to add top 20 coins by market capitalization.
TrustWallet has announced an update to support the Stellar (XLM) digital asset, just weeks after adding support for Ripple’s XRP. With this, Trust Wallet, an app under the Binance brand, has added two of the most promising digital assets, with direct plans of connecting their networks for usage by banking entities.
The support for the Stellar network was added by user request, as the asset gained popularity for its partnership with IBM and for gaining access to banking experiments and even a live interbank payment system.
“Adding support to Stellar’s XLM on Trust Wallet is a result of our community’s overwhelming request and our response to it,” Viktor Radchenko, founder of TrustWallet, said.
“Additionally, the Stellar team has made it easy for our development team to get XLM integrated to our wallet with its robust technical groundwork and tools that allowed the integration to be processed fast, reliable and easy.”
Despite the positive news, XLM has stagnated around $0.10, with no price rally in sight. The news of adoption are, for now, not enough to spark a rally. XLM volumes remain around $283 million’s equivalent in 24 hours.
Recently, Stellar also received a dedicated popularization program through Coinbase, with a one billion XLM giveaway to interested parties. The exchange service, in partnership with the Stellar Development Foundation, is donating the coins to teach interested parties about the Stellar protocol.
For now, the XLM giveaway is restricted to US-based customers, who will receive $10 in XLM for viewing educational content and answering quizzes. The Earn XLM opportunity may also be spread to international customers. The spreading of XLM assets for popularization recalls the approach of XRP to donate coins and popularize the asset.
Currently, XLM seems like an overlooked asset, with most inflows coming in from the Bitcoin (BTC) pairings, Coinlib data show. For now, XLM is not pulling in investments from holders of Tether (USDT), or other altcoins. For now, XLM has been outcompeted by other assets that take up the bulk of trading and speculation.