The White Company and Fintech Ltd recently announced a partnership which aims at bringing USD, GBP and Euro fiat deposits and withdrawals service to the users. As a result of the partnership, the created platform will become the first Stellar DEX-based exchange and wallet which will actually offer such a service.
The White Standard is built on the Stellar protocol while being the first and only $USD stable coin. The official information on the company website claims that WSD provides instant and efficient transactions and easy integration into the existing Stellar ecosystem and the Stellar DEX. The company also operates the White Wallet platform allowing users to buy, sell, send and receive WSD with fiat and other cryptocurrencies. The White Company is also launching GBP-backed (WSP) and Euro-backed (WSE) stable coins.
Elizabeth White, the CEO of The White Company shared official comments stating: “our goal is to unleash crypto’s real world potential, and this partnership with Interstellar is the first of many steps in not just bringing the White Standard stable coins to the masses, while increasing the ease for consumers to purchase Stellar lumens (XLM) with USD, GPB and the Euro”.
From the other side, Fintech Ltd’s Interstellar is a one-stop secure crypto wallet and decentralized exchange. The wallet offers many different features to the users in addition to secure deposits, withdraws and trade in Bitcoin, Stellar Lumens, Litecoin, Ethereum and Ripple.
Currently there are a few options for cryptocurrency traders to purchase in fiat currencies as most of the exchangers usually offer trading solely in cryptocurrencies. In this case, users will be offered to deposit USD, GBP or Euro via The White Company and receive WSD, WSP or WSE at a 1:1 ratio, without fees.
“Users will be able to trade all three stablecoins for Stellar’s native XLM currency, as well as a multitude of other cryptocurrencies and tokens such as BTC and ETH. Traders who wish to redeem the stable coins they have purchased will go through a similar process, requesting redemption and providing their bank account information where they can receive a US domestic ACH, European SEPA or international wire transfer”, concluded the official announcement.