Business
Pendulum Announces Blockchain Bridge
Pendulum Announces Blockchain Bridge.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \n \n \n 14 March 2023\n \n \n \n \n Blue Star Capital plc\n \n \n \n \n \n \n (\"Blue Star\" or the \"Company\")\n \n \n \n \n \n \n Pendulum Unveils Blockchain Bridge to Connect Stellar and Polkadot\n \n \n \n \n \n \n Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, notes the recent announcement made by Pendulum,\n a company incubated by Blue Star's investee company SatoshiPay,\n that the Pendulum blockchain has released \"Spacewalk\", its blockchain bridge connecting the Stellar and Polkadot networks. \n \n \n \n \n \n Pendulum describes Spacewalk as a trust-minimized bridge that supports the smooth and seamless transfer of stable assets between the two ecosystems, allows closer collaboration in the de-fi sector and drives synergies between traditional fintech services and the de-fi sector. Pendulum expects that the ability to use stable digital currencies backed by traditional fiat currencies will support a range of new use cases on Polkadot and Stellar.\n \n \n \n \n \n Pendulum is committed to advancing foreign exchange (\"Forex\") trading into the blockchain space to integrate a tranche of the $6.6 trillion traded daily in Forex markets. It is hoped that the Spacewalk bridge will serve as critical infrastructure to bring stablecoin liquidity required for Forex trading to Pendulum and, in turn, to all of Polkadot and Stellar.\n \n \n \n \n \n In future, it is expected that Spacewalk will be extended to other prominent blockchain networks such as Cosmos, Ethereum, potentially enabling Spacewalk to pioneer a new era of secure and decentralised blockchain bridges, merging the technologies developed for Stellar and InterBTC.\n \n \n \n \n \n Alex Wilke, Co-Founder of Pendulum, said: \"With Spacewalk, we are breaking down the barriers between different blockchain ecosystems, allowing for broader usage of Stellar's stablecoins and fuelling Pendulum's on-chain forex markets. This innovation marks a new era for fiat-connected decentralized finance, and we are proud to lead the charge. \"\n \n \n \n \n \n Tomer Weller, VP Product at Stellar Development Foundation, said: \"Spacewalk is making interoperability a reality, showing a viable path to building trust-minimized asset-tran...