In a recent interview, he announced that the Paxos family of stablecoins, including dollar-denominated and gold-backed assets, will soon be integrated with the Stellar Network.

This move is expected to leverage Stellar’s global reach and enhance its ecosystem, marking a milestone for both Paxos and Stellar.

The announcement has sparked considerable discussion in the crypto community. Crypto Mentality, a well-known cryptocurrency commentator, highlighted the news on Twitter, forecasting potential price targets for XLM in the next three months.

$Paxos CEO makes huge $Stellar $XLM announcement!

Next 3 months $XLM $21.50 High end$XLM $8.25 low end pic.twitter.com/veo8rFWWgA

— Crypto Mentality (@Crypt0Mentality) November 20, 2024

According to their tweet, the high-end projection for XLM is $21.50, while the low-end estimate is $8.25. However, this price prediction is the commentator’s opinion and is not directly tied to Casparella’s statements.

In response to skepticism from users such as “kodbass wilfried,” who pointed out that Casparella did not provide specific price predictions, Crypto Mentality clarified, “I never said he did.”

This underscores the difference between Paxos’s announcement and the speculative nature of the price targets by the crypto proponent.

Details of the Paxos-Stellar Integration

Casparella’s statement emphasized the importance of Stellar for Paxos.

He stated: “We’re really proud to say that the Paxos family of stablecoins will be coming to the Stellar Network. We think this is very exciting given the reach and global nature of what Stellar represents and the ecosystem that it has. We’re excited to be able to bring some of our dollar stablecoins, also our gold stablecoin, the whole family to this ecosystem.”

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Stellar, known for its focus on cross-border payments and financial inclusion, has gained traction among institutional players for its robust and scalable blockchain infrastructure. The addition of Paxos stablecoins to the network could enhance Stellar’s utility in global payment systems and asset digitization.

Paxos, a regulated blockchain infrastructure platform, is a key player in the stablecoin space, issuing assets such as the Pax Dollar (USDP) and Pax Gold (PAXG). The integration into Stellar could extend the accessibility of these stablecoins, particularly in emerging markets.

Community Speculation and Price Targets

Crypto Mentality’s projections for XLM—ranging from $8.25 to $21.50—have fueled speculation about the potential impact of this integration on Stellar’s market value.

The basis for these estimates was not disclosed. Such projections are common in the crypto space. They often reflect optimism around major developments.

Market participants should note that these price targets are speculative and may not account for broader market conditions, regulatory developments, or other variables.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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According to the report, Bank Leumi is the first bank to enable crypto trading services in the country. The company’s digital platform Pepper Invest made the announcement on Thursday after sealing a partnership with the US-based blockchain company Paxos.

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It should be noted that Paxos was allowed by the United States Securities and Exchange Commission (SEC) to launch a program to settle trades back in 2019. Since then, the network has attracted the attention of many big players from the legacy finance world.

With the new development, Pepper Invest customers will be able to buy and sell cryptocurrencies, which include only Bitcoin (BTC) and Ethereum (ETH) for now, in transactions worth at least 50 shekels ($15.49), the report added.

The report says the statement gave no launch date, but it’s currently awaiting regulatory approval. So, the service could go live any moment from now.

According to the statement, as quoted by Reuters, Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities, adding that the service will also eliminate the risks of downloading a digital wallet.

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Reacting to the new development, Pepper Invest CEO Uri Natan, said:

“We are proud to be the first in the banking system in Israel, and one of the few in the world, to offer our customers to trade cryptocurrencies in a simple, safe and reliable way, without having to download a wallet, and without having to deal with the tax authorities.”

It’s worth noting that Leumi is one of the two largest banks in Israel.

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