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Stellar joins Glo as Founding Organization
With a $250,000 donation, Stellar (SDF) backs the stablecoin that funds a better world. The donation will be used to support wide and seamless integration of Glo Dollar into the Stellar ecosystem.
July 19, 2024
Articles
Stellar and Glo
Stellar joins Glo as Founding Organization
With a $250,000 donation, Stellar (SDF) backs the stablecoin that funds a better world. The donation will be used to support wide and seamless integration of Glo Dollar into the Stellar ecosystem.
July 19, 2024
With SDF’s $250,000 donation, we’re leveraging zero-cost philanthropy to create a more balanced and better world
SDF creates equitable access to finance using blockchain technology
The Stellar network lets anyone, anywhere, connect to a global and stable financial system easily. The network is faster, cheaper, and more energy-efficient than most blockchains. With over 2 billion Stellar payments already made, people use it for cross-border transactions, distributing aid, tokenizing assets, and managing their finances with on and off-ramps.
Glo Dollar adds purpose to Stellar payments
Anyone that’s using the Stellar blockchain can now use Glo Dollars and support causes that matter to them, without having to donate.
In the first quarter of 2024, Stellar’s real-world asset supply was equivalent to over 533 million dollars. If Glo Dollar adds 10% to that (~53 million), we would generate up to $3 million for charitable causes yearly, at no cost to Glo Dollar users on Stellar.
Glo donates 100% of its profits. How that works on Stellar:
- Users acquire Glo Dollars (see availability here, or use Lobstr, Freighter, or xBull). US businesses can mint Glo Dollars on Stellar directly through our issuer Brale. The fiat backing Glo Dollar will be invested and earn revenue.
- We use our portion of the revenue to fund charities and public goods.
- Glo Dollar users on Stellar support charitable causes, without having to donate.
What it means for Glo Dollar payments on Stellar: illustrating embedded philanthropy
Remittances in Glo Dollars on Stellar
When someone in the United States sends stablecoins through Stellar to their family in Argentina, it can help cover their daily expenses. If they choose to send Glo Dollars, the sender and recipient still benefit the same way, but with the added bonus that the reserves backing the stablecoin also generate donations to support charities.
Social payouts in Glo Dollars on Stellar
When organizations use stablecoins for payments like grants or government services, recipients benefit. Using Glo Dollars for these payments are similar, while also generating donations to support charities from the reserves backing the stablecoin.
Growing Glo Dollar on Stellar: our commitment and contributions
We’ll approach growth on Stellar from two directions: 1. Integrating with key Stellar platforms and applications, and 2. Bringing the existing Glo ecosystem to Stellar.
Integrating with key Stellar platforms and applications
To achieve true adoption of Glo Dollar on Stellar, we’re aiming for deep integration within its network of dApps and services. We’re currently exploring integrations with Arf, Beans, and Vibrant. Our playbook involves a combination of integrations, partnerships, creating real-world case studies, and adding funding recipients that matter to Stellar users.
Bringing the existing Glo ecosystem to Stellar
Glo Dollar is supported by a robust ecosystem known as the Glo Consortium, comprising 50 platforms, dApps, and protocols. These entities actively back Glo Dollar and maintain a strong partnership with us. We’ll collaborate with these members to help them expand to the Stellar network.
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In this program, GiveDirectly identifies impoverished African villages to give their citizens $30 per month, transferred via mobile money technology, for 3-5 years. For people living on less than $2/day this is a transformational amount.
Glo's economic model is to invest its reserve in short-term Treasury bills and give the proceeds away entirely to GiveDirectly.
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With SDF’s $250,000 donation, we’re leveraging zero-cost philanthropy to create a more balanced and better world
SDF creates equitable access to finance using blockchain technology
The Stellar network lets anyone, anywhere, connect to a global and stable financial system easily. The network is faster, cheaper, and more energy-efficient than most blockchains. With over 2 billion Stellar payments already made, people use it for cross-border transactions, distributing aid, tokenizing assets, and managing their finances with on and off-ramps.
Glo Dollar adds purpose to Stellar payments
Anyone that’s using the Stellar blockchain can now use Glo Dollars and support causes that matter to them, without having to donate.
In the first quarter of 2024, Stellar’s real-world asset supply was equivalent to over 533 million dollars. If Glo Dollar adds 10% to that (~53 million), we would generate up to $3 million for charitable causes yearly, at no cost to Glo Dollar users on Stellar.
Glo donates 100% of its profits. How that works on Stellar:
- Users acquire Glo Dollars (see availability here, or use Lobstr, Freighter, or xBull). US businesses can mint Glo Dollars on Stellar directly through our issuer Brale. The fiat backing Glo Dollar will be invested and earn revenue.
- We use our portion of the revenue to fund charities and public goods.
- Glo Dollar users on Stellar support charitable causes, without having to donate.
What it means for Glo Dollar payments on Stellar: illustrating embedded philanthropy
Remittances in Glo Dollars on Stellar
When someone in the United States sends stablecoins through Stellar to their family in Argentina, it can help cover their daily expenses. If they choose to send Glo Dollars, the sender and recipient still benefit the same way, but with the added bonus that the reserves backing the stablecoin also generate donations to support charities.
Social payouts in Glo Dollars on Stellar
When organizations use stablecoins for payments like grants or government services, recipients benefit. Using Glo Dollars for these payments are similar, while also generating donations to support charities from the reserves backing the stablecoin.
Growing Glo Dollar on Stellar: our commitment and contributions
We’ll approach growth on Stellar from two directions: 1. Integrating with key Stellar platforms and applications, and 2. Bringing the existing Glo ecosystem to Stellar.
Integrating with key Stellar platforms and applications
To achieve true adoption of Glo Dollar on Stellar, we’re aiming for deep integration within its network of dApps and services. We’re currently exploring integrations with Arf, Beans, and Vibrant. Our playbook involves a combination of integrations, partnerships, creating real-world case studies, and adding funding recipients that matter to Stellar users.
Bringing the existing Glo ecosystem to Stellar
Glo Dollar is supported by a robust ecosystem known as the Glo Consortium, comprising 50 platforms, dApps, and protocols. These entities actively back Glo Dollar and maintain a strong partnership with us. We’ll collaborate with these members to help them expand to the Stellar network.
Worldwide • Full remote
Worldwide • Full remote
Worldwide • Full remote
