Stellar (XLM) just became home to salaries paid in real-time USDC transactions for employers & employees working with Zebec. The New York-based fintech company carries out what’s called ‘streaming payments’.
Simply put, this allows real-time streaming payments to be made upon user request, instead of the traditional method of transferring a lump sum payment every month. This makes payments programmable, but most of these services are based on USDC rather than Stellar’s native XLM.
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Moreover, Stellar’s XLM Network now hosts a salary payment system that’s directly linked to Mastercard debit cards, enabling the workers to or cash out to a local currency or spend money in-shop.
Stellar’s TVL Jumps 9.25% With Zebec’s Roll-Out
The package also includes an automated HR dashboard, something a flurry of European institutions have been testing out this month. Zebec’s applied a multi-chain attitude, piloting the real-time salary system on Solana (SOL) first. Then ,Stellar (XLM) was picked second for low fee global remittances.
The on-chain metrics reflect this decision: Stellar’s Total Value Locked (TVL) skyrocketed by 9.25% in 24 hours, says DefiLlama. However, for XLM, the price implications might come in late. The altcoin is down 4.48%, clinging on the $0.21 support level, still acting as a major demand zone after last month’s upswing.
To add, the stablecoin market capitalization on XLM Network is now witnessing an all-time high at $807 million. And it’s not dominated by Circle’s USDC – the leader capturing more than 60% is now USDY, an interest-bearing token developed by Ondo Finance that is secured by short-term U.S. Treasuries and bank demand deposits.Â
Judging from the price movement on Tuesday, Stellar’s bulls are facing massive resistance when trying to fill the $0.23 wick, constantly getting beaten down to the $0.212 price level, coinciding with the Exponential Moving Average (EMA).
Why Stellar’s Price Flopped Despite Bullish News?
Certainly, the scales are lopsided on Futures, as XLM’s bulls took in a $1.22 million deficit in liquidations, per CoinGlass data. Conversely, the short-sellers flushed away $522.13K in excessively-leveraged positions, but that’s not enough for the bulls to orchestrate a comeback yet.
The big issue is the sell-offs on smaller time-frames among crypto currency whales, the largest of crypto investors. With the Chaikin Money Flow (CMF) now dwelling in negative figures, XLM’s bounce back to the May heights of $0.28 could be postponed until paper hands are shaken out.
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Blockchain payroll company Zebec officially launched its enterprise payroll platform on the Stellar network. Companies can now pay salaries and contractors in stablecoins, with workers receiving funds instantly into digital wallets, Mastercard-powered cards, or converting to local currency.
This is one of the first real enterprise use cases for Stellar. It allows multinational companies and HR teams to handle global payroll payments quickly and cheaply using blockchain instead of slow traditional banking systems.
Several European institutions and multinational employers are in the final testing phase for salary payments, contractor fees, and employee benefits.
It’s a very positive development for real-world utility. If more companies adopt Zebec’s payroll solution on Stellar, it could drive consistent demand for XLM (used for fees and network security).
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