New Stellar Anchor Platform connects businesses to the blockchain and to a global network of wallets and exchanges
The Stellar Development Foundation’s newest product helps businesses connect to Stellar faster and cheaper
ROME, 11 October 2022 /PRNewswire/ — Today at Stellar’s 4th Annual Meridian Conference, the Stellar Development Foundation (SDF), the non-profit organization that supports the growth and development of the Stellar network, announced the launch of the Anchor Platform, an out-of-the-box solution which makes it easier and faster than ever for businesses to connect to the blockchain. In just three steps, companies such as banks and money transfer operators can access the Stellar network with reduced development costs and time.
The anchor platform is a pre-packaged software API built to help businesses easily connect to Stellar. With one integration, businesses can plug the Anchor Platform API into their existing technical infrastructure and access Stellar’s payment rails without the need for custom integrations. This enables a growing list of services, such as cross-border fiat-to-digital assets, and deposits and withdrawals.
This innovative solution helps to bridge the gap between fiat-focused businesses and blockchain-based companies. Leveraging prepackaged software, it’s easier than ever for businesses to connect to a global network of interoperable wallets, exchanges and applications that want to support new financial services for end users.
Stellar anchors provide on/off ramps for digital currencies on the Stellar network. Anchors can accept deposits of fiat currencies (such as USD, CNY, and BRL) via existing rails (such as bank deposits or cash-in points), and then use the Stellar network to send users the equivalent value of digital tokens representing those deposits. With simple out-of-the-box integration, fintech companies can become anchors themselves, while getting to market faster, cheaper and having their services available to a global network of applications.
“Tasks that used to require months of development have just been simplified by a factor of ten,” said Denelle Dixon, Executive Director and CEO of the Stellar Development Foundation. “The anchor platform enables companies to bridge their services to wallets, applications and exchanges in weeks instead of months. Some of the world’s brightest minds are simplifying blockchain technology integrations for everyone. Today, we see this trend exemplified through increasingly better interoperability of the Stellar network.”
“Now with the Anchor Platform, Stellar anchors can expand their existing business by integrating one API client and thus open access to a global network of interoperable money services companies, application developers and end users in the digital asset economy,” says Nicholas Gilbertproduct manager at Stellar Development Foundation.
The anchor platform is now live, with support for cross-border payments available today and new payment services rolling out over the coming months. Additional benefits of the platform include interaction with a network of more than 80 global anchors and reduced project risk. For more information on how to get your business integrated with Stellar visit stellar.org/anchorplatform.
About Stellar
Stellar is a decentralized, fast, scalable and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for issuing digital assets, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visit stellar.org.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open source network that connects the world’s financial infrastructure. Founded in 2014, the foundation helps maintain Stellar’s code base, supports the technical and business communities that build on the network, and acts as a voice for regulators and institutions. The foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s financial potential through blockchain technology. For more information, visit stellar.org/foundation.
SOURCE The Stellar Development Foundation
