Join Our Mailing List
Wednesday September 27, 2023
Bitcoin (BTC) $26,269.04   Ethereum (ETH) $1,600.61
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Capital Raising

Stellar Development Foundation invests $5M in blockchain payment app Wyre

This is the first investment made from SDF's Enterprise Fund in the 2021 fiscal year, bringing the fund's total investments to $14.265M since its launch in FY20...

Published by CryptoNinjas.net
01/26/2021
Stellar Development Foundation invests $5M in blockchain payment app Wyre

Today, the Stellar Development Foundation (SDF) announced a $5 million USD Enterprise Fund investment in Wyre, a blockchain payments company.

The investment will introduce a wide variety of payment APIs to fintech applications on the Stellar network, integrating with existing anchors and enabling Stellar USDC on/off ramps in existing fiat pairs (USD, GBP, CAD, AUS, and EUR).

With more than $5 billion in transfers executed since 2013, Wyre has a portfolio of advanced services offered to individual, business, and enterprise clients including fiat-to-crypto on-ramps, payouts, compliance, crypto wallet infrastructure, foreign exchange, and savings accounts.  Adding Wyre to the Stellar ecosystem, will create key payment infrastructure and enable relationships connecting international financial systems.

“Growing the network of Stellar anchors — stablecoin issuers and on/off ramps — is fundamental to how Stellar connects global financial systems with blockchain technology. Bringing Wyre’s industry-leading payment APIs to the Stellar ecosystem will empower businesses, especially anchors, to expand existing payment corridors and develop new ones,” said Denelle Dixon, CEO and Executive Director of SDF, who will also now serve on Wyre’s board in a seat designated for SDF. “Simplifying expansion and development on Stellar moves us closer to our goal of creating equitable access to the global financial system.”

One of the most immediate ways Wyre will support the ecosystem is through USDC, one of the world’s leading digital dollar stablecoins, slated to go live on the Stellar network in Q1. Wyre will provide a compliant and reliable way for ecosystem apps to onboard Stellar USDC without requiring developers to create any additional integrations or UI builds. In addition, Wyre’s savings product and compliant on/off ramps will incentivize deposits and lending of Stellar assets by making it easy for ecosystem apps to accept funds and allow users to earn interest.

“We’re focused on making money transfers easy, cost-effective, and truly borderless, so working with the Stellar Development Foundation is a perfect fit. This investment means we can continue our growth into international markets while providing developers an easy way to integrate with the Stellar ecosystem,” said Ioannis Giannaros, Wyre CEO. “Building the world’s most robust, innovative, and inclusive financial system is a shared objective.”

Wyre, founded in 2013, is a licensed money transmitter with store of value facilities and fiat in/out capabilities. Allowing developers to build compliant financial applications in under ten lines of code, Wyre processed $5B in transactions since 2013 and has grown payment processing by 262% since last year.

“The Enterprise Fund was created to support mission-driven businesses that mirror the goals of Stellar — like enabling cross-border payments and global access to financial services — while providing practical value to the Stellar ecosystem,” said Jason Chlipala, Chief Operating Officer of SDF. “Our backing of Wyre is the first of several investments we intend to make this year that will drive towards our goals for the Enterprise Fund.”

6
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin
Source: stellar.org

Related News

Ukraine hryvnia pilot on Stellar launched by TASCOMBANK and Bitt

12/13/2021
Ukraine hryvnia pilot launched by TASCOMBANK and Bitt on Stellar

Blockchain and fintech company Bitt and TASCOMBANK, one of Ukraine's oldest commercial banks, have launched a pilot project to issue an electronic hryvnia on Stellar. As part of the pilot, the cross-company team will...

Read more

Cryptocurrency exchange AscendEX integrates Wyre’s fiat-to-crypto API

08/23/2021
Cyptocurrency exchange AscendEX integrates Wyre’s fiat-to-crypto API

Wyre, a blockchain and crypto payment service, announced today that cryptocurrency exchange AscendEX has integrated its 'Checkout' API and widget. Wyre's API streamlines the fiat-to-crypto conversion process, allowing anyone can acquire crypto assets with...

Read more

SatoshiPay receives grant from Stellar to develop layer-2 Pendulum blockchain

06/08/2021
SatoshiPay receives grant from Stellar to develop layer-2 Pendulum blockchain

SatoshiPay, a blockchain-powered payment solution built on Stellar, announced that it has received a research and development grant from the Stellar Development Foundation to start the production of the Pendulum network; a new second-layer...

Read more

Stellar Development Foundation Enterprise Fund invests $15M in LATAM digital wallet Airtm

05/25/2021
Stellar Development Foundation Enterprise Fund invests $15M in LATAM digital wallet Airtm

The Stellar Development Foundation (SDF), a non-profit organization that supports the development and growth of the Stellar network, has announced a $15 million Enterprise Fund investment in Mexico City-based Airtm, a blockchain-based, bank-connected digital...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy