Grayscale Investments, the electronic asset administration company operating under the Digital Forex Group umbrella, is adding assist for Stellar lumens with a new investment decision product.
The firm declared Thursday that it was launching the Stellar Lumens Believe in, a “single-asset investment decision product” which exposes traders to lumens (XLM), the native asset of the Stellar network. Grayscale by now presents one-asset trusts for a selection of other cryptocurrencies, which include bitcoin, bitcoin dollars, ethereum, ethereum traditional, zen, litecoin, XRP and zcash.
The Stellar blockchain was developed as a minimal-value payment network, Grayscale mentioned in a press release, with the purpose of offering impoverished communities with access to economical services. Launched by Jed McCaleb, the Stellar project has notably captivated the interest of IBM, which is developing a cross-border payment rail on leading of the network.
In a statement, Grayscale controlling director Michael Sonnenshein mentioned that “the launch of this product will expand our protection of the electronic asset universe.”
The firm “will keep on to supply traders access to founded blockchain initiatives with considerable traction and sources,” he reported.
Grayscale’s announcement arrives on the heels of it reassuring present clients that an investment decision auto for yet another of these founded blockchain initiatives, ethereum traditional, was not in any hazard following a prolonged 51 percent attack on the network.
Stellar founder Jed McCaleb at Consensus 2018 picture by way of CoinDesk archives.