{"id":515934,"date":"2023-01-13T05:00:47","date_gmt":"2023-01-13T10:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=515934"},"modified":"2023-03-08T07:26:31","modified_gmt":"2023-03-08T07:26:31","slug":"stellar-xlm-ukraine-e-money-pilot","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/stellar-xlm\/stellar-xlm-ukraine-e-money-pilot\/","title":{"rendered":"Stellar (XLM) Poised To Rally? Ukrainian Bank Reveals Successful E-Money Pilot"},"content":{"rendered":"<p>The Stellar (XLM) price remains in a long-term downtrend. After seeing an all-time high of nearly $0.81 on May 10, 2021, XLM&#8217;s price has fallen massively. Currently, XLM is 90.6% down from its ATH. Since October 2021, Stellar has also been in a descending trend channel.<\/p>\n<p>At press time, XLM was trading at $0.0822. Thus, the price is showing <a href=\"https:\/\/wncen.com\/news\/stellar-xlm-could-grow-dim-this-week\/\" target=\"_blank\" rel=\"noopener \">initial signs of strength<\/a> and could make a first attempt to break through the upper line of the trend channel at $0.10. What would probably be needed is a clear move that catapults the XLM price toward the next important resistance level at around $0.13.<\/p>\n<p>Should this succeed, the XLM bulls could target the next resistance zone around $0.23.<\/p>\n<figure id=\"attachment_515937\" aria-describedby=\"caption-attachment-515937\" style=\"width: 2958px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-515937 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?resize=2958%2C1614\" alt=\"Stellar XLM USD\" width=\"2958\" height=\"1614\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=2958 2958w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XLMUSD_2023-01-13_09-41-18.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-515937\" class=\"wp-caption-text\">Stellar in bearish territory, weekly chart | Source: XLMUSD on <a href=\"https:\/\/www.tradingview.com\/chart\/uD28avrX\/?symbol=CME_MINI%3AES1%21\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Bullish News Pushing Stellar Out Of The Bearish Trend?<\/h2>\n<p>A potential catalyst for a breakout out of the bearish trend was provided yesterday by the Stellar Foundation. It shared in a tweet that TASCOMBANK, one of Ukraine&#8217;s oldest commercial banks, published the results of its e-money pilot project on the Stellar network.<\/p>\n<p>Remarkably, TASCOMBANK is one of the leading Ukrainian commercial banks, which is regarded as a system bank. It operates in many areas of banking, including consumer and corporate lending, factoring, e-commerce, and trade finance.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-spikes-to-19k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term<\/a><\/div>\n<p>The report on the project, which was launched in December 2021, informs the National Bank of Ukraine and the Ministry of Digital Transformation about the benefits of issuing e-money on the Stellar blockchain, highlighting the advantages.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Transparency, accountability, and low transaction costs were among the many cited benefits of blockchain in a report by <a href=\"https:\/\/twitter.com\/tascombank?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@tascombank<\/a>. <\/p>\n<p>During their Pilot, one of Ukraine&#39;s oldest banks cited the future of e-currency on Stellar as &quot;promising&quot;<a href=\"https:\/\/t.co\/SSGkUdONNi\" rel=\"nofollow\">https:\/\/t.co\/SSGkUdONNi<\/a><\/p>\n<p>&mdash; Stellar (@StellarOrg) <a href=\"https:\/\/twitter.com\/StellarOrg\/status\/73177602?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As stated in a Stellar Foundation <a href=\"https:\/\/twitter.com\/StellarOrg\/status\/73177602\" target=\"_blank\" rel=\"noopener nofollow\">blog post<\/a>, TASCOMBANK praises the blockchain&#8217;s transparency, security, and confidentiality of customer data, low transaction costs, instant payment functionality, and high throughput &#8220;at each stage of development, from conducting operations to testing&#8221;<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/stellar-xlm-could-grow-dim-this-week\/\" target=\"_blank\" rel=\"noopener \">Stellar (XLM) Could Grow Dim This Week, But Buyers Don\u2019t Need To Back Down<\/a><\/div>\n<p>The goal of the project was to test the issuance of e-money, focusing on peer-to-peer and merchant payments, as well as payroll. Sergii Kholod, First Deputy Chairman of the Board of TASCOMBANK, commented:<\/p>\n<blockquote><p><strong>As part of a pilot project we explored a new way of issuing and managing electronic money which could be a new generation means of payment for the citizens and organizations of Ukraine, their employees and clients, government institutions, and international organizations.<\/strong><\/p><\/blockquote>\n<p>Speaking about the pilot project, Oleksii Shaban, Deputy Governor of the National Bank of Ukraine, said that there are &#8220;still many hypotheses&#8221; that need to be investigated in the pilot project. However, he expressed that the pilot results are an important basis for use at commercial and central banks.<\/p>\n<p>Oleksandr Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, also revealed that his ministry and TASCOMBANK are currently examining &#8220;the approaches to further rollout of blockchain-based payment instruments.&#8221;<\/p>\n<div class=\"disclaimer-shortcode\">Featured image from ELG21 \/ Pixabay, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Stellar (XLM) price remains in a long-term downtrend. After seeing an all-time high of nearly $0.81 on May 10, 2021, XLM&#8217;s price has fallen massively. Currently, XLM is 90.6% down from its ATH. Since October 2021, Stellar has also been in a descending trend channel. At press time, XLM was trading at $0.0822. Thus, the price is showing initial signs of strength and could make a first attempt to break through the upper line of the trend channel at $0.10. What would probably be needed is a clear move that catapults the XLM price toward the next important resistance level at around $0.13. Should this succeed, the XLM bulls could target the next resistance zone around $0.23. Bullish News Pushing Stellar Out Of The Bearish Trend? A potential catalyst for a breakout out of the bearish trend was provided yesterday by the Stellar Foundation. It shared in a tweet that TASCOMBANK, one of Ukraine&#8217;s oldest commercial banks, published the results of its e-money pilot project on the Stellar network. Remarkably, TASCOMBANK is one of the leading Ukrainian commercial banks, which is regarded as a system bank. It operates in many areas of banking, including consumer and corporate lending, factoring, e-commerce, and trade finance. Related Reading: Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term The report on the project, which was launched in December 2021, informs the National Bank of Ukraine and the Ministry of Digital Transformation about the benefits of issuing e-money on the Stellar blockchain, highlighting the advantages. Transparency, accountability, and low transaction costs were among the many cited benefits of blockchain in a report by @tascombank. During their Pilot, one of Ukraine&#39;s oldest banks cited the future of e-currency on Stellar as &quot;promising&quot;https:\/\/t.co\/SSGkUdONNi &mdash; Stellar (@StellarOrg) January 12, 2023 As stated in a Stellar Foundation blog post, TASCOMBANK praises the blockchain&#8217;s transparency, security, and confidentiality of customer data, low transaction costs, instant payment functionality, and high throughput &#8220;at each stage of development, from conducting operations to testing&#8221; Related Reading: Stellar (XLM) Could Grow Dim This Week, But Buyers Don\u2019t Need To Back Down The goal of the project was to test the issuance of e-money, focusing on peer-to-peer and merchant payments, as well as payroll. Sergii Kholod, First Deputy Chairman of the Board of TASCOMBANK, commented: As part of a pilot project we explored a new way of issuing and managing electronic money which could be a new generation means of payment for the citizens and organizations of Ukraine, their employees and clients, government institutions, and international organizations. Speaking about the pilot project, Oleksii Shaban, Deputy Governor of the National Bank of Ukraine, said that there are &#8220;still many hypotheses&#8221; that need to be investigated in the pilot project. However, he expressed that the pilot results are an important basis for use at commercial and central banks. Oleksandr Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, also revealed that his ministry and TASCOMBANK are currently examining &#8220;the approaches to further rollout of blockchain-based payment instruments.&#8221; Featured image from ELG21 \/ Pixabay, Chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":515949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16891],"tags":[3970,4276,12220],"class_list":["post-515934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stellar-xlm","tag-stellar","tag-ukraine","tag-xlm"],"acf":[],"yoast_head":"\n<title>Stellar (XLM) Poised To Rally? Ukrainian Bank Reveals Successful E-Money Pilot<\/title>\n<meta name=\"description\" content=\"The Stellar (XLM) price remains in a long-term downtrend. 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Stellar (XLM) Poised To Rally? 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