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🌐 New Stellar Anchor Platform Bridges Businesses to the Blockchain and to a Global Network of Wallets and Exchanges 🌐
Stellar Development Foundation’s latest product helps companies link to Stellar faster and cheaper
October 13, 2022
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ROME, ITALY — OctoberĀ  11, 2022 — Today at Stellar’s 4th annualĀ MeridianĀ conference, the Stellar Development Foundation (SDF), the non-profit that supports the growth and development of the Stellar network,Ā  announced the launch of the Anchor Platform, an out-of-the-box solution that makes it easier and faster than ever for businesses to connect to the blockchain. In just three steps, companies such as banks and money transfer operators may access the Stellar network with reduced development cost and time.

The Anchor Platform is a prepackaged software API built to help companies easily connect to Stellar. With one integration, businesses may plug the Anchor Platform API into their existing technical infrastructure and access Stellar’s payment rails without the need for custom integrations.Ā  This enables a growing list of services such as fiat-to-digital asset cross-border payments and deposits and withdrawals.

This innovative solution helps bridge the gap between fiat-focused businesses and blockchain-based companies. By leveraging pre-packaged software, it’s easier than ever for businesses to connect to a global network of interoperable wallets, exchanges and applications looking to support new financial services for their end-users.

Stellar anchors provide on/off ramps for digital currencies on the Stellar network. Anchors may accept deposits of fiat currencies (such as USD, CNY, and BRL) via existing rails (such as bank deposits or cash-in points), and then use the Stellar network to send users the equivalent value of digital tokens representing those deposits. With a simple out-of-the-box integration, financial technology companies may become anchors themselves, while getting to market more quickly, inexpensively, and having their services available to a global network of applications.Ā 

"Tasks that used to require months of development have just been simplified by a factor of ten," said Denelle Dixon, CEO and Executive Director of Stellar Development Foundation. "The Anchor Platform enables companies to bridge their services to wallets, applications, and exchanges in weeks rather than months. Some of the world's brightest minds are simplifying blockchain technology integrations for everyone. Today, we see that trend exemplified through the ever-improving interoperability of the Stellar network."

ā€œNow with the Anchor Platform, Stellar anchors can grow their existing business by integrating one API client and thereby opening up access to a global network of interoperable money service businesses, applications developers, and end-users in the digital asset economy,ā€ says Nicholas Gilbert, Head of Product at Stellar Development Foundation.

The Anchor Platform is now live, with support for cross-border payments available today and new payment services rolling out over the coming months. Additional benefits of the Platform include interoperating with a network of more than 80 global anchors and reduced project risk. For more information on how to get your business integrated with Stellar visitĀ stellar.org/anchorplatform.Ā 

ā€About Stellar

Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visitĀ stellar.org.Ā 

Ā About the Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visitĀ stellar.org/foundation.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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