Stellars Lisa Nestor: Crypto Wallets All Over The World Can Now Have Financial savings Accounts (Interview) – CryptoPotato
The Stellar Development Foundation is focused more on developing its protocol than on market conditions, said Lisa Nestor, senior director of enterprise ecosystems for the organization. In an exclusive interview with CryptoPotato, Nestor also spoke about the latest developments from Stellar.
Stellar USDC Accessible Savings Products
The blockchain-based network for currencies and payments recently announced a significant milestone achieved through its partnership with payment processor Wyre. The latter introduced a new Wyre Savings API through which “FinTechs can access income-oriented savings products that use Stellar USDC”.
CryptoPotato had the opportunity to speak to Nestor during the 2021 Bitcoin conference in Miami, where she shared more details on how the initiative works.
Nestor believes the new partnership, which will facilitate fiat-to-crypto payments, would have “a really big impact on the market” because of Wyre’s reach to its huge fintech customers.
Lisa Nestor, Stellar.
With the new initiative “the same fintechs can consume the savings products individually for their own corporate treasury and offer them to their end customers via the API.
This means that a crypto wallet all over the world can suddenly not only give its users access to a fast, cheap version of USDC, but also offer them this savings account, where they can generate a return on it. “
Additionally, as a regulated financial services company in the United States with a license to operate in most states in the country and several other nations, Wyre can improve the legitimacy of the project for those outside the cryptocurrency industry.
At the same time, Stellar will provide its efficient platform and bring in the USDC with its “liquid and reputable” blockchain.
The project was in the beta phase for a few months and has shown significant results in the trials with BTC and ETH. However, USDC was only recently added, and Wyre and Stellar have yet to provide their first usage metrics.
Lots of dollars that have to go in some places
When asked how the bull market affected Stellar’s product development in late 2020 and early 2021, Nestor said it wasn’t having as significant an impact as some positive regulatory news from the US.
For example, she outlined the OCC’s decision to allow US banks to use stablecoins and public blockchains for payments. It had a “really good impact on the quality of the conversations we have with US financial institutions.”
Nonetheless, Nestor outlined the massive price increases in the market, which made XLM popular again with private investors. However, she also believes that “there are some much bigger macroeconomic things going on right now that really have nothing to do with crypto.”
“Right now there are a lot of dollars in the world and in some places they have to go. And just as we can see – affects the stock markets.
I think you can see an impact on the crypto markets too. I think that was part of the bull run recently that inevitably has to go through how every market has to cool down. “
As for the company’s mission, Nestor said it focused on cross-border payments:
“I think to be able to make a payment from one end of the world to the other using an asset like USDC or Stellar’s native driveways and do it for a fraction of a cent in a matter of seconds – it really is what it’s about.
SPECIAL OFFER (sponsored)
Binance Futures 50 USDT FREE Coupon: Use this link to register and get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register and enter the POTATO50 code to receive 50% free bonus on every deposit up to 1 BTC.