Stellar (XLM) is an open-source, decentralized platform for facilitating cross-border transactions in various forms of currency.
The platform was created in 2014 by Jed McCaleb, who is also the founder of the Mt. Gox Bitcoin exchange and the Ripple (XRP) network.
Stellar is built on blockchain technology, which allows for secure, fast, and low-cost transactions. The platform operates as a decentralized exchange, enabling users to trade different types of currency, including fiat, cryptocurrency, commodities, and other assets.
One of the key features of Stellar is its ability to connect financial institutions and individuals, allowing them to transact directly with one another. This allows for a more efficient and cost-effective transaction process compared to traditional financial institutions.