Soroban, Stellar's new smart contract platform launched with Protocol 20, enables developers to build DeFi applications for underbanked and unbanked populations with low fees and real existing infrastructure, addressing crypto's long-standing goal of financial inclusion.
Stellar launched Soroban, a Rust-based smart contract platform, earlier this year via Protocol 20 to bring decentralized finance to underbanked and unbanked populations globally. Unlike other chains, Soroban developers build for an established ecosystem of over 8 million accounts with existing on-ramps, off-ramps, wallets, and low transaction fees, rather than speculative future users. The platform uses Rust and WebAssembly, allowing developers familiar with standard languages to deploy quickly without learning proprietary syntax. Soroban enables creation of AMMs, lending markets, and other DeFi products that are economically accessible to users in developing regions where Ethereum and centralized exchange fees are prohibitively expensive. The combination of Stellar's mature infrastructure, low costs, and new smart contract capability positions it as an alternative for developers seeking to serve underserved markets.