Stellar’s CEO Attended IMF Conference With US FED And Mastercard

Stellar’s CEO attended the IMF conference along with the US Federal Reserve and Mastercard where they will be exploring the creation of the global roadmap to improve cross-border payments as we are reading more in our latest stellar news.

According to the announcement on the official website, the International Monetary Fund will host the “Cross-Border Payments- A New Beginning” event where guests like Jerome Powell, Rory MacFarquhar who is the senior vice president of Mastercard, and Denelle Dixon, Stellar’s CEO, will attend.

What is the impact of digital money on the international monetary system? Tune in Monday, October 19 at 8:00am ET for a live conversation moderated by @KGeorgieva. https://t.co/I38pquq430 #CrossBorderPayments #IMFmeetings pic.twitter.com/U1j0ZdSHhW

— IMF (@IMFNews) October 17, 2020

The event will discuss the impacts of digital currencies on international financial systems and it will be divided into 4 panels so the speakers were split into groups with specific topics. in the first panel, Powell and 3 other people that represent central banks with global importance will have a conversation. They will be in charge of exploring the macro-level effects that digital currencies have on monetary policies, international financial systems, and financial stability. Also, they will discuss the possible collaboration of policymakers to “maximize social benefits” and reduce the risks associated with the assets class.

Dixon and other guests will participate in the panel that is mostly focused on the private sector. The panel will be moderated by the Assistant Direction of the IMF Monetary and Capital Markets Department Dong He. The participants will discuss new development challenges and solutions for cross-border payments but they will also discuss a key issue for the entire crypto industry and blockchain technology which is- regulation.

The panel will uncover what private entrepreneurs expect from policymakers and regulators and will try to answer the question of whether innovation can be encouraged while still preserving a level playing field thus ensuring the interoperability of solutions. The last two panels will address the role of the public sector and a global roadmap for implementing improvements. The panel will include the Deputy Governor of the Bank of England Jon Cunliffe, the Governor of the Bank of Mexico  Alejandro Diaz de Leon that are both quite anti-crypto. BoE governor Andrew Baily said that bitcoin has “no intrinsic value.”

Since the announcement of the cooperation between the Stellar Development Foundation and CENTRE, there are positive results. As reported, a few days ago both entities revealed that the stablecoin will be hosted by the Stellar Lumens blockchain in early 2021 while the announcement being a part of the multi-chain framework for the stable coin which was established with Algorand.

XLM was trading at $0.08 and 4.13% profit in the last payday. The strongest gains are shown with an 8.74% increase while the monthly chart shows profits of 7.64% with a market cap of about $1.7 billion.