Stellar
$0.11093 -1.91%
XLM · 9w

BitGo Adds Stellar Lumens, CEO Says They Offer Unique Features

BitGo, a major Palo Alto-based cryptocurrency startup, is adding Stellar Lumens (XLM) and Dash (DASH) to its list of cryptocurrencies that it offers custodian solutions for, signaling that the two cryptocurrencies are seen as being unique and practical enough to pass the company’s selective coin addition process.

Customers will be able to generate wallets for Dash, a spin-off of Bitcoin aimed at being a more effective means of payment, starting Friday, and wallets for Lumens starting sometime in the next couple of weeks.

BitGo markets themselves as being the “world’s most secure wallet provider,” so the addition of XLM and DASH wallets could be exciting for investors in the two cryptocurrencies. The startup is also the largest Bitcoin processor in the world, with over $15 billion in monthly transactions with clients from over 50 countries.

BitGo CEO: Dash and Stellar Lumens Offer Unique Features to Users

The announcement regarding the addition of XLM and DASH came from Mike Belshe, BitGo’s founder and CEO, while speaking on Fortune’s Balancing the Ledger FinTech video series. Belshe specifically noted that the addition of the two new cryptos is due to their unique features that “offer some advancements, particularly around payments.”

Specifically, Belshe explains that the addition of Dash is due to the cryptocurrency’s “instant payment” and “privacy payment” features that are proving useful for many people, specifically those in countries like Venezuela, who are using Dash to avoid Hyperinflation and damaging fiscal policies.

Ryan Taylor, Dash Core Group’s CEO, recently spoke to Business Insider about the adoption of Dash in Venezuela, saying:

“We are seeing tens of thousands of wallet downloads from the country each month… Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now.”

Belshe also explains that Stellar Lumens was also ...

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