The Stellar Development Foundation (SDF) is a non-profit organization dedicated to supporting the development and growth of the Stellar network. The company has announced an investment in a US$15 million corporate fund located in Mexico City. Airtm, This is a digital wallet and P2P trading platform based on blockchain and connected to banks, which can provide U.S. dollar accounts for consumers and businesses throughout Latin America and other emerging markets.
This investment will enable Airtm to integrate with Stellar in the coming year, thereby promoting the development of its platform, providing global financial services to businesses and consumers in Latin America and developing countries, while using the most powerful features of the Stellar network for efficient and safe transactions. And more cost-effective.
“Airtm exists because the entire financial system of developing countries cannot meet the needs and global aspirations of their people,” said Airtm CEO Ruben Galindo Steckel. “Through this investment and our integration with the Stellar network, we will continue to fulfill our mission to help consumers and businesses in developing countries obtain a stable and valuable currency that can be immediately transferred for free, and Globally compatible economy, you can withdraw in local currency anytime, anywhere.”
SDF’s corporate fund is a venture capital fund used to expand the open source Stellar network globally. Since its establishment in fiscal year 2021, the fund has invested a total of US$24.5 million in global financial technology or blockchain companies so far in 2021, with a total investment of US$33.76 million.
“We are pleased to work with Airtm to further strengthen the important work they are doing in Latin America and other regions to solve the last mile remittance problem, make it reach the end users faster and more affordable, and expand fairness. Use the global financial system.” said Denelle Dixon, CEO and Executive Director of SDF. “With the transfer of Airtm to Stellar, we foresee the future in which Latin America will become one of the fastest growing regions in the world for remittances, and will set off a wave of adoption and innovation in the entire region’s peer-to-peer and commercial digital payment fields.