Wirex launches support for Stellar Lumens (XLM) in APAC

Wirex, a UK FCA-regulated digital money platform, has announced that it is launching support for Stellar Lumens (XLM) in the Asia Pacific region.

The company first announced support for XLM in April this year, allowing users to buy, store, exchange and spend the cryptocurrency via its platform. Wirex made the announcement of XLM support in APAC via Tweet.

The countries where the support is being rolled out include Australia, Hong Kong, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam

“We are delighted to launch #XLM accounts for Wirex verified users in APAC! StellarLumens is now available to buy, sell & exchange through the Wirex app,” the post reads.

XLM is currently the twelfth largest cryptocurrency in terms of market capitalization and trading at $0.1007 at the time of writing.

According to the forecast of CyptoNewsZ, XLM is looking at a rough few days with the short-term predictions for the coin being quite bearish. For now, traders holding on to the crypto coin are advised to simply hold off and wait for it to recover. Stellar is preparing for its Meridian Conference event that is scheduled for November and followers are hoping that it will give the coin a boost in value.

As of today, XLM is still expected to perform poorly, with CryptoNewsZ noting that it is “still trending in the bearish zone with calculated resistance level and support level of $0.1091 and $0.1021 respectively. In this zone, the number of supplies can increase as it invites new investors on board.”

In April, Wirex had announced its partnership with the Stellar network, with plans to launch 26 stablecoins on the network.