Stellar Lumens [XLM]: Binance’s Trust Wallet adds XLM following IBM partnership

The push for the mainstream adoption of cryptocurrencies by several organizations in the cryptosphere captured multiple headlines over the past couple of weeks. One cryptocurrency that became popular over the past week was Stellar Lumens [XLM], which shot to fame after its partnership with IBM’s World Wire.

Following the development, Binance’s Trust Wallet, a popular cryptocurrency wallet, announced that they would be adding Stellar Lumens [XLM] to their roster. Trust Wallet’s official blog said,

“We are happy to announce that we are now supporting Stellar (XLM). This new release emphasizes our ambition to continue delivering our promise in providing support for the top 20 cryptocurrencies by market cap. Stellar’s cryptocurrency XLM powers the Stellar payment network, which easily facilitates secure and fast monetary transactions between financial institutions, payment systems and individual asset accounts.”

The organization stated that XLM’s low-cost infrastructure allowed users the freedom to design and build unique financial services without any major monetary restrictions and cited the example of a required minimum balance, which is a requisite for many other major players.

According to officials at Trust Wallet, users of the eighth largest cryptocurrency only need to deposit and maintain a balance greater than 1 XLM. With the addition, Stellar Lumens became the eighteenth cryptocurrency to join Trust Wallet’s growing roster. Binance Trust Wallet is also working towards adding more coins to compete with Coinbase, the largest cryptocurrency exchange in the world in terms of users.

Victor Radchenko, the Founder of Trust Wallet, also stated,

“Adding support to Stellar’s XLM on Trust Wallet is a result of our community’s overwhelming request and our response to it. Additionally, the Stellar team has made it easy for our development team to get XLM integrated to our wallet with its robust technical groundwork and tools that allowed the integration to be process fast, reliable and easy.”

Trust Wallet was also in the news after it offered support for XRP, the third largest cryptocurrency. At the same time, Binance integrated credit card support within the wallet to make cryptocurrency purchases easier and efficient. The organization claimed that the addition of the credit card feature will further crypto-adoption and help bring in freedom in monetary transactions.