Airtm is a digital wallet and P2P cryptocurrency exchange platform in Latin America. Today, Stellar Development Foundation has announced that they have invested whopping 15 million dollars in Airtm. In return, Airtm will be integrating with Stellar network to make transactions more efficient and cost-effective for users.
This move by Stellar Development Foundation (SDF) is bullish for XLM adoption and Stellar network as it will help drive digital transformation in fast-growing Latin American countries.
Airtm is based in Mexico and it has received highest ever investment by SDF. According to CEO of Airtm, Stellar network integration will be completed next year. This will bring global financial services to businesses and consumers in Latin America and other developing countries.
By next year, Airtm will be doing its transactions on Stellar network which will be used to process transactions in fastest growing regions for global remittances. This will unleash a new wave adoption and innovation in both P2P and business digital payments throughout the region.
By using Stellar network, developing world will be able to access stable coins that hold their value and transfer them within near-zero fees. At the same time, these stable coins can be withdrawn to local currency whenever required.
Till now, Stellar Development Foundation has invested more than 33.76 million dollars in various fintech and blockchain companies.