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Laxman Pai, Opalesque Asia: The decentralized exchange on its own blockchain, StellarX, which has been in beta test mode over the past several months, is now launched. The trading app for Stellar's universal marketplace offers crypto, fiat tethers, commodities, bonds, and more.
According to a blog post by Interstellar, the company behind the platform, StellarX is a zero-feed decentralized exchange built on the Stellar (XLM) blockchain with an industry-first fiat on-ramp.
"We're a totally free trading platform, almost certainly the only one. Legacy exchanges charge per trade. A "free" custodial platform, like Robinhood, profits from its customers' idle funds," said a statement from the company.
Decentralization offers a more user-friendly experience, but users of any Ethereum DEX?€?-?€?IDEX, EtherDelta, and so on?€?-?€?have to pay for gas, which, as we've already shown, is too expensive today and will be even more expensive in the future, it said.
StellarX will allow users in the U.S. and more countries to fund their accounts with their bank accounts soon, it said.
It can be done by using Automated Clearing House (ACH) transactions directly from a U.S. bank account that links to the StellarX application. The exchange will also soon support euros, pesos, naira, yuan, Hong Kong dollars and the pound.
Though the company claims to be free, the Stellar network charges a flat per-transaction fee as an anti-spam measure, but the fee is so l...................... To view our full article Click here
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