Company Pays $500M in Cryptocurrency to Acquire Another
Quote from Ndubuisi Ekekwe on June 21, 2018, 2:00 PMA cryptocurrency company, Stellar, is buying a company (Chain) which uses blockchain to create financial solutions. That is not really news. What is news is that Stellar would pay for the deal with its cryptocurrency, Lumens. The dollar value is $500 million. That is fascinating and could be the largest-ever use of cryptocurrency in commerce.
Lumens were created by Stellar, a company founded in 2014 by Ripple co-founder Jed McCaleb. Stellar Lumens (XLM) is the seventh most valuable cryptocurrency with a market cap of more than $4.3 billion. This week, the cryptocurrency was approved by New York financial regulators to trade on the itBit exchange.
A cryptocurrency company, Stellar, is buying a company (Chain) which uses blockchain to create financial solutions. That is not really news. What is news is that Stellar would pay for the deal with its cryptocurrency, Lumens. The dollar value is $500 million. That is fascinating and could be the largest-ever use of cryptocurrency in commerce.
Lumens were created by Stellar, a company founded in 2014 by Ripple co-founder Jed McCaleb. Stellar Lumens (XLM) is the seventh most valuable cryptocurrency with a market cap of more than $4.3 billion. This week, the cryptocurrency was approved by New York financial regulators to trade on the itBit exchange.
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