There have been a huge amount of achievements made by Stellar Lumens in 2020, as it entered into some of the most notable partnership in its history, despite a chaotic year. One of the first blockchains that hosted the USDC stablecoin was XIM, which itself had been issued as CENTRE. Other than this success, Stellar had also been involved in the cross-border payment expansion that occurred in Africa. Since Stellar Lumens is entering into multiple partnerships, it is safe to say that the company is experiencing rapid growth. One of the most successful tokens by Stellar that were issued within its blockchain is none other than the XIM token.
XIMcoin introduced this coin in the market back in March last year. The company itself is a part of SecureLC Limited and the target audience for the asset had been exporters, importers, manufacturers, and global sales agencies. The purpose of developing XIM was to make international business-to-business (B2B) transactions possible instantly. Some of the other features of the coin include online shopping, thanks to the merchants that are willing to accept XIM, along with a quick exchange between fiat and other cryptocurrencies as well. The asset’s whitepaper provided detail about its development with the purpose of eliminating the numerous transaction issues that were typically associated with the telegraphic transfer system.
Banks are commonly known to use this system, but XIM has now surfaced as a rather convenient alternative. According to the whitepaper, using the XIM platform for making cross-border transactions is faster, cheaper and a lot more secure than any other options in the market. Recently, there has been a huge surge in XIM’s adoption, as it managed to move past all its previous all-time highs of investors locking into the asset. As per the latest statistics, there are nearly 800 companies that use the XIM token for settling their respective transactions.
Some of the prominent entities that seem to have adopted XIM for streamlining their international payments include Pax Health Safety. The company is a manufacturer, as well as an importer and exporter, which develops different pieces of medical equipment that are for specialized personnel protection. Pax Health Safety works with governments all over the world for this purpose and also has some dealings with the United Nations. Another entity that appears to have adopted the use of XIM coin is Bhanu Exports, which is an exporter of different types of food products all over the world.
In fact, Bhanu has claimed that it has ‘direct contact’ with the manufacturers, farmers, and other links that make up the food supply chain. Moreover, the company has also prioritized assisting small businesses in running their operations, which is certainly a bonus. While the list of companies using the XIM token does include corporate entities, there are more than 250 other companies that have also publicly adopted it. These companies belong to a variety of sectors, whether it is telecommunications, energy, construction or entertainment for that matter. This has certainly helped boost XIM’s adoption.