Stellar Releases Open-Source Disbursement Platform for Global Payments

Key takeaways

• Stellar has launched a decentralized payment platform that can process bulk payments instantly across national borders
• Stellar aims to provide more equitable access to financial services for the underbanked
• Stellar’s Disbursement Platform will work in conjunction with its network of 475,000 cash-to-crypto stations that have been situated around the world

It is estimated that 2.5 billion adults around the world have no access to a bank account. The unbanked phenomenon restricts freedom of movement and can be seen as a major contributing factor to global poverty statistics.

One of the most significant use cases for decentralized finance (DeFi) is that it can provide financial services to unbanked and underbanked people. It is thought that more people own a mobile phone in developing nations compared to the number who own a bank account, which represents an opportunity for more equitable financial access using digital methods.

A core aim of the Stellar project is to help “bridge the financial services gap” for people who have limited access to reliable financial systems. Stellar, an industry-leading blockchain solution for cash-to-crypto on-ramps, provides a range of decentralized services that improve access to digital payments for people in developing countries.

To add to its list of blockchain services, Stellar has now launched an open-source payment system that can provide 24/7/365 payment processing across national borders. From microtransactions to bulk payments, Stellar’s Disbursement Platform provides “full certainty of funds delivery” in real-time.
 

1/ Today, we’re excited to share the open-source release of the Stellar Disbursement Platform.

From paying gig workers anywhere in the world to delivering digital aid, anyone can power global payments using digital assets with this publicly available, bulk disbursements tool.

— Stellar (@StellarOrg) August 16, 2023

How does Stellar’s Disbursement Platform work?

Stellar’s new Disbursement Platform unlocks a reliable method of processing payments without the need for a centralized authority. The infrastructure is supported by a decentralized network of nodes that verify transaction validity automatically, providing a cheaper and more efficient method of processing cross-border payments.

Stellar’s Disbursement Platform, via stellar.org

The new payment platform can be integrated seamlessly with third-party platforms via APIs and provides a simple solution for processing bulk payments. For companies that primarily operate online, or even companies that primarily distribute their payments using digital systems, Stellar’s new Disbursement Platform provides a convenient solution.

People all over the world can now be paid using the decentralized system. Stellar guarantees that funds are delivered in real time, and provides a transparent method of tracking the flow of funds. The Disbursement Platform can also work in conjunction with Stellar’s network of 475,000 cash-to-crypto stations around the world, allowing people in underbanked societies to get paid instantly and spend their income without delay.

What is Stellar?

Stellar (XLM) is a decentralized payment network that utilizes the XLM token as a bridge to facilitate cross-border transactions. With a primary goal of creating a global financial infrastructure that is accessible to everyone, Stellar’s open-source technology enables seamless movement of funds between currencies and across borders at lower costs than traditional payment methods.

XLM price prediction

The current price of XLM is $0.1254, down 3% in the past 24 hours. The CoinCodex price prediction algorithm expects XLM to rise by 10.35% over the coming 30-day period, taking the price to $0.1416 by 15th September 2023.