The Stellar Development Foundation invested $3 million in Settle Network, a Latin American cross-border payment platform, to support its stablecoin exchange StableX. This marks SDF's fourth Enterprise Fund investment this fiscal year.
The Stellar Development Foundation (SDF) invested $3 million worth of Stellar lumens in Settle Network, a Latin American cross-border payment and exchange platform focused on stablecoins. The investment supports Settle's recently launched StableX, described as the world's first stablecoin exchange and gateway, targeting the fiat-to-crypto market in Argentina and across Latin America. Settle Network chose to build on Stellar for its global interoperability capabilities. This investment represents the fourth from the SDF Enterprise Fund in the current fiscal year, with a total of $9.3 million distributed to DSTOQ, Abra, SatoshiPay, and Settle Network.