Clients have been asking when they can invest in Stellar (XLM) inside their IRA Retirement Accounts and that time is now!

 

Who created Stellar?

The Stellar story starts with Jed McCaleb. He is fairly prolific in the crypto industry having created the first large-scale Bitcoin exchange, known as Mt. Gox. In 2011, he founded and was the CTO of Ripple until moving on to create Stellar. He built Stellar as a fork of Ripple (XRP) and while having similar underpinning technology, he had a much different and larger vision than his original Ripple creation.

 

What is Stellar?

Stellar describes itself as an open network for storing and moving money. The original intention was to make it possible to create, send, and trade any digital asset. The hope was to allow the entire world’s financial systems to work together through the single network known as Stellar. One can think of Stellar as a next-generation payment system, with its own unique digital currency. While much of those aspirations have yet to come true, Stellar has made notable headlines throughout the years.

In 2018, Stellar was used as a piece of IBM’s World Wire Program. This program was designed for financial institutions to use stablecoins built on Stellar in order to streamline payments and settlements.

In 2021, Circle announced that it was adding Stellar to its growing list of blockchains that support USDC, the stablecoin that primarily lives on Ethereum. Stablecoins have shown to be not only a critical piece of infrastructure for decentralized finance but they have the potential to truly change global finance and cross-border payments as a whole.

 

What is Stellar Lumens (XLM)?

Stellar Lumens (XLM) is the native digital asset of the Stellar blockchain. XLM is used in order to pay for transaction fees when using the network and as a potential bridge between stablecoins and other digital assets built onto the Stellar network.

 

Important Note: All investments involve substantial risk of loss.  All trading strategies are used at your own risk and you are responsible for the financial resources you utilize.  If the market moves against you, you may sustain a total loss of the initial amount you allocated to the investment.  you should not engage in trading unless you fully understand the nature of the transaction you are entering into and the extent of your exposure to loss.  If you do not fully understand these risks,  you should seek independent advice from your financial advisor.  iTrust is not an investment specialist, tax specialist, financial planner (certified or otherwise), or retirement advisor, and iTrust does not provide investment advice, tax advice, financial planning services, or retirement planning or retirement-specific advice.  iTrust facilitates the purchase of digital currency and precious metals, nothing more, and charges a fee for the service it provides.  All investment decisions are made by iTrust users.  Please read the full Risk Disclosure.