Stella Lumen Gets the One Up On Ripple
Stella Lumen has been on a roll thanks to its new deal with Tempo and becoming the first cryptocurrency to gain Sharia compliance certification. This opens the door to Stella being integrated into Middle Eastern Financial Firms. Stella nows have the advantage over Ripple in the Middles East thanks to its Sharia certification. Why’ll Ripple has a 50% market share in India, Stella will dominate the Middle East. Through its new certification, Stella distribution ledger technology (DLT) protocol is the first to gain access to the money transfer and tokenization space in Middle East countries.
Sharia certification extends to Lumens Stella’s native cryptocurrency. By using Lumen’s people in the Middle East will have access to cheaper remittance channels than currently being offered in those countries. On top of this Stella plans on offering other services in the Middle East as well. How Stella plans on doing this is still not fully disclosed, however, Stella plans on meeting with leading global financial institutions on how best to utilize its Sharia certification.
Currently, Stella and Ripple are battling it out to see who will dominate the international transfer market. Both cryptocurrencies have made great strides toward there goals of global integration with the financial systems. However, as of lately Stella seems to be one step ahead of Ripple. Stella and Ripple have many similarities as both were founded by the same person Jeb McCaleb. For the many similarities, there are differences between the two. Stella Lumen is built for the individual while Ripple is built for multinational corporations. One sees to empower individual’s through its open platform, while the other seeks partnerships with the same institutions that fear crypto and the decentralization of financial power created by the crypto revolution.