• The Stellar community will significantly benefit from the MBRL stablecoin by Mercado Bitcoin through increased on-chain activity.
• Some notable institutional investors utilizing the Stellar Lumens ecosystem include Circle, MoneyGram, and BlackRock, among others.

The Stellar Lumens network continues to expand its global market amidst sustained bear markets. Brazil’s top cryptocurrency exchange Mercado Bitcoin (MB), has announced the launch of its first stablecoin dubbed the MBRL, which is reportedly backed by reais. According to the announcement, the MBRL stablecoin was developed on top of the Stellar (XLM) blockchain.

The cryptocurrency exchange has, however, indicated that the MBRL stablecoin will be made available on other blockchains in the future. Furthermore, the success of a stablecoin is directly related to the number of chains it runs through. Reinaldo Rabelo, CEO of MB said;

Our goal is to accelerate the enormous potential for the adoption of blockchain applications in Brazil, developing solutions that empower our customers’ daily transactions,

The news was low-impacting on XLM price that exchanged around $0.087806 on Friday, down approximately 73 percent in the past twelve months. Nonetheless, the XLM market has gained approximately 18,376 percent in the past seven years, according to our latest crypto price oracles. 

As such, an XLM holder since inception who…