Stellar Partnership: Cables Finance Pioneers Fusion of Traditional Finance and Blockchain

  • Cables Finance launched on the Stellar mainnet recently, becoming the first decentralized exchange on Soroban, Stellar’s scalable smart contracts platform.
  • Cables offers a semi-decentralized approach, combining centralized liquidity with the autonomy of self-custody, offering the best of both worlds.

The Stellar ecosystem continues to grow, and the latest addition is Cables Finance, an innovative decentralized exchange (DEX) that combines the best of both worlds to offer a unique trading platform for users.

Cables Finance integrated into the Stellar network last week, becoming the first DEX to launch on Soroban, Stellar’s developer-friendly smart contracts platform. As Crypto News Flash reported, Soroban launched on the mainnet in late January, offering developers plug-and-play SDKs and local sandboxes that make deploying smart contracts easier on Stellar than most chains.

Announcing the integration, Stellar described it as a “pivotal moment where traditional finance and blockchain technology converge.” It added:

This partnership embodies a shared vision to simplify cross-border payments and bring liquid FX trading to blockchain, democratizing access to financial services globally.

Cables Finance is a semi-decentralized platform whose aim is to bring foreign exchange on-chain and break into the monopolized FX industry. It sits at the intersection of the mature centralized exchange sector and the rapidly growing decentralized exchange industry, offering the best aspects of both worlds, all done on a transparent public blockchain.

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Stellar and Cables Finance Fuse Blockchain and TradFi

Deployed on Avalanche, Cables is expanding to other chains, with Stellar key to its growth. The exchange’s focus perfectly mirrors Stellar’s mission to merge blockchain and the real world.  Since its founding in 2014, the network has strived to create opportunities for innovators to enhance the global financial system.

In the blog post announcing the integration, Stellar noted that Cables will leverage its network to ” transform FX trading into a more transparent, accessible, and equitable experience for all.”

Unlike other DEXes which employ a purely decentralized approach, Cables recognizes that some aspects of the centralized world are worth keeping. After all, there’s a reason that centralized exchanges command over 90% of the spot market.

One of the best features of CEXes is efficient liquidity, and Cables Finance keeps this aspect but combines it with decentralized aspects such as self-custody and the autonomy it comes with.

The platform also offers unique features including a central limit order book, trading that’s free of any slippage and over-the-counter capabilities. This ensures that it’s not just another DEX copying from the dozens of others that offer the same products, but rather, a “groundbreaking financial tool that can bring stronger access to FX and high-quality stablecoins to support economies where currency value and trade is more volatile.”

Commenting on the integration, the Stellar Foundation’s VP of Product Tomer Weller stated:

Working with Cables Finance, we’re really pushing the envelope by bringing FX onchain, which aligns with the Foundation’s goal to create access to the global financial system. Cables Finance is a game-changer, marrying traditional market liquidity with the security of blockchain in a way that’s seamless. Cable’s launch on Stellar paves the way for a more inclusive financial world for everyone.

Meanwhile, Stellar’s XLM token trades at $0.109, losing 4% in the past day and 18% in the past week as the market continues to bleed.

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