NDAX Lists Stellar Lumen (XLM); Launches Next Generation Trading Platform
- NDAX becomes first exchange to list XLM/CAD trading pair
- Zero trading fees on XLM until the end of January
- New user-friendly interface an important step to merging traditional finance and cryptocurrency
CALGARY, Dec. 4, 2018 /CNW/ -
NDAX Becomes First Canadian Exchange to List Lumen (XLM) – Offering 0% Trading Fees Until January 31st, 2019
To celebrate the launch of the new trading platform, National Digital Asset Exchange ("NDAX") is pleased to announce the listing of Lumen (XLM), the native asset of the Stellar network. NDAX becomes Canada's first exchange to add support for the XLM token, allowing users to purchase and sell directly with Canadian dollars (CAD). It is the seventh cryptocurrency listed on the exchange after Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and EOS (EOS). Until January 31st, 2019, users will enjoy free trading fees when purchasing or selling the XLM token.
Co-founded by Jed McCaleb – one of the founders of Ripple – Stellar is a decentralized, open-source payments network that utilizes XLM as the official cryptocurrency to facilitate fast, reliable and low-cost transactions across the world.
Lumen Reaches the Top Five Cryptocurrencies by Market Cap
With over 1,000 cryptocurrencies in existence, you'll find most people are familiar with some of the largest coins by market cap such as Bitcoin, XRP and Ethereum. XLM recently climbed its way to the top five cryptocurrencies, and here's why Stellar has established itself as one of the industry's biggest players.
- Speed and Affordability: Lumen offers the ability to transact between different currencies and move money around the world quickly, securely and for fractions of a penny.
- High-Profile Partnerships: In early 2018, Stellar announced it had secured a key partnership with IBM to explore blockchain banking across multiple currencies. Other key partnerships include Deloitte, Remitr, KickEx, and MSewa Software Solutions.
- Decentralized Financial System: As a decentralized payment rail, Stellar's digital ledger does not depend on any single entity, rather, the independent servers participating on the Stellar network sync and validate the transactions on the ledger by a mechanism known as consensus.
- Ideal for Micropayments: As the blockchain industry continues to expand, the demand for Stellar's micro-sized transactions could substantially increase – another key factor behind its growth.
- Not-For-Profit Organization: Stellar is a non-profit organization that was created to improve cross-border payments and remittances for the unbanked.
Powerful and Intuitive Trading Platform Goes Live
With this sleek new infrastructure, the new user-friendly interface is a game changer for the fintech industry. NDAX has quickly become a leader in digital asset trading by offering a powerful, innovative, and feature-rich web experience that fits the needs of any investor level.
- Fast Order Execution: NDAX's institutional-grade trade is capable of handling 1MM transactions per second, enabling market orders to be filled very quickly.
- Quick Deposit and Withdrawal Times: Fully integrated with the Canadian banking system, users can quickly get their money in and out of crypto with minimal friction.
- Intuitive Wallet: Manage your portfolio more efficiently with Canada's most user-friendly crypto wallet, allowing you to easily access and safely store your crypto assets with peace of mind.
- Advanced Trading Options: Trade smarter by leveraging NDAX's advanced trading options including stop limit, trailing stop, fill or kill, and iceberg.
- Full Activity Report: Easily track your trading activity and overall performance on demand by viewing your trade reports on a daily, monthly or yearly basis.
- Professional Charting Tools: Interactive charting tools with real-time, intraday data to help you strengthen your trading analysis.
NDAX's Confident Blockchain and Crypto Assets Will Revolutionize Traditional Banking
From a global transaction perspective, banks serve as critical hubs for transferring value. While the potential use cases of blockchain are being explored for various industries, payment gateways based on blockchain technology can enable banks to streamline their clearing and settlement process considerably. Blockchain is a modern way for banks to offer a frictionless experience to transfer funds globally on a verifiable, tamper-proof and highly transparent digital ledger.
In particular, blockchain-banking has emerged as a clear alternative to SWIFT (a messaging network used by banks worldwide to send and receive information) by linking financial institutions around the world and settle cross-border payments within a few seconds. Many of the world's largest banks, including Barclays and Bank of America, are experimenting with blockchain to expedite settlement times and significantly reduce back office functions, which many in the financial services industry say could shave nearly $20B in middleman costs. Companies like Stellar and Ripple are connecting banks, financial institutions and merchant service providers via blockchain technology to send and receive money globally with no friction.
SOURCE National Digital Asset Exchange Inc.
Elizabeth Zyluk, Corporate Communications Advisor, [email protected]
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