This cryptocurrency project is now courting banks
Monday, May 15, 2017
Stellar, an open-source payments network that started as a splinter project from Ripple, has formed a for-profit company to help financial institutions integrate its software.
Lightyear.io represents an acknowledgment that to fulfill Stellar co-founder Jed McCaleb’s goal of an open, global financial system, traditional banks will need to be involved.
The company said in a press release that by utilizing Stellar’s open-source network, it will be able to power payments between financial institutions and enable “seamless exchange between currencies, and let anyone build low-cost financial services.”