As the final moments of 2024 fade into history, the Stellar Development Foundation (SDF) reflects on a year defined by innovation, growth, and real-world impact. From launching foundational upgrades to expanding global financial access, the Stellar ecosystem evolved significantly—setting the stage for even greater transformation in 2025.
This year marked a pivotal shift: Stellar is no longer just a payments network. It has matured into a full-fledged blockchain platform capable of supporting decentralized finance (DeFi), tokenized assets, secure smart contracts, and humanitarian solutions—all built on a foundation of speed, low cost, and sustainability.
Let’s explore the key milestones that shaped Stellar’s journey in 2024.
DeFi: Building a Next-Gen Financial Ecosystem
Smart Contracts Go Mainstream with Soroban
The most transformative moment of 2024 was the mainnet launch of Soroban, Stellar’s smart contract platform. Designed for developers and users alike, Soroban unlocks new possibilities for building decentralized applications (dApps) that are faster, cheaper, and more secure than traditional platforms.
With Soroban, developers can write smart contracts in familiar languages like Rust while benefiting from Stellar’s near-instant finality and negligible transaction fees. This combination makes it ideal for real-world financial tools—from lending protocols to insurance platforms.
👉 Discover how developers are building the future of finance on a high-performance blockchain.
Seamless Onboarding with Passkeys
One of the biggest barriers to Web3 adoption has been wallet complexity. In 2024, SDF tackled this head-on by introducing passkeys—a passwordless authentication method using biometrics like fingerprint or facial recognition.
Now, users can sign transactions and interact with dApps as easily as unlocking their phones. By eliminating seed phrases and traditional 2FA, passkeys reduce user error and improve security—making Web3 feel like Web2.
Blend Reaches $12M in Total Value Locked
DeFi on Stellar is no longer theoretical. Blend, a modular liquidity protocol, achieved an all-time high of $12 million in TVL by December 4, 2024. This milestone signals growing confidence in Stellar’s DeFi infrastructure.
Key integrations with wallets like Meru have expanded Blend’s reach, enabling more users to lend, borrow, and earn yield seamlessly across the network.
Protocol Upgrades 21 & 22: Powering Performance
Two major network upgrades—Protocol 21 and 22—went live this year, introducing critical enhancements:
- Native support for passkey signing
- More flexible contract management
- Efficient contract initialization
- Advanced cryptography
- Lower operational costs
- Improved throughput and scalability
These upgrades weren’t just technical improvements—they were strategic moves to future-proof the network for mass adoption.
Payments: Expanding Access and Usability
MoneyGram Ramps Fuel Cross-Border Innovation
Financial inclusion took a leap forward with the integration of MoneyGram Ramps into wallets like Ejara, TruBit, EspressoCash, MoneyFlap, and OwlPay. These integrations allow users to convert cash to digital dollars—and vice versa—without needing a bank account.
For underbanked populations across Africa, Latin America, and Asia, this means direct access to global financial tools through local cash networks.
Stellar Joins Mastercard Crypto Credential Initiative
In a major step toward mainstream adoption, Stellar became part of the Mastercard Crypto Credential ecosystem. This collaboration enables wallet providers to offer verified, compliant experiences—reducing fraud risks and increasing trust between consumers and businesses.
It’s a signal that institutions recognize Stellar as a secure, scalable infrastructure for next-generation payments.
Wallets Deliver Better User Experiences
User experience continued to improve across the board:
- Vesseo now allows money transfers to contacts without wallets.
- Decaf and Vesseo added advanced search by username, email, or wallet address.
- AirTM, Meru, Decaf, and Beans rolled out gasless transactions, letting users send funds, swap tokens, and off-ramp without holding native assets for fees.
These features lower entry barriers and make blockchain feel intuitive—even for first-time users.
Stripe Brings Crypto Payouts to Stellar
Following its “crypto is back” announcement, Stripe integrated with Stellar to enable crypto payouts for U.S. merchants. This allows businesses to pay freelancers, partners, or employees instantly in digital assets.
Crypto pay-ins on Stellar are expected soon—potentially unlocking e-commerce settlements at scale.
Assets: Driving Real-World Asset Adoption
Franklin Templeton Hits $450M Milestone
Franklin Templeton’s Benji investment platform, built on Stellar, reached an all-time supply high of approximately $450 million. This success underscores institutional confidence in Stellar as a reliable infrastructure for tokenizing real-world assets (RWAs).
Benji offers retail investors access to U.S. Treasury-backed yields—democratizing wealth-building tools once reserved for the elite.
GYEN and ZUSD Listed on Bitstamp
Stablecoins GYEN (Japanese yen-backed) and ZUSD (U.S. dollar-backed), issued by GMO-Z.com Trust Company, were listed on Bitstamp, one of Europe’s oldest and most trusted exchanges.
This listing provides regulated access to digital assets on Stellar, enhancing liquidity and credibility within global markets.
Strategic Integrations Expand Tokenization Capabilities
- Paxos announced plans to bring assets to Stellar, accelerating institutional adoption of stablecoins.
- Taurus-PROTECT (custody) and Taurus-Capital (issuance) integrated with Stellar, enabling banks and issuers to tokenize any asset—from bonds to private equity.
- Yellow Card launched USDC on Stellar across 20 African countries, creating a fast, low-cost corridor for stablecoin transfers in regions where traditional banking remains inaccessible.
These partnerships highlight Stellar’s role as a bridge between traditional finance and blockchain innovation.
Network: Strengthening Infrastructure and Insights
Stellar Launches on Dune and Artemis
Transparency and data accessibility improved dramatically with Stellar’s launch on Dune and Artemis, two leading on-chain analytics platforms.
Now, developers, analysts, and researchers can explore real-time data about transactions, wallet activity, and protocol usage—empowering better decision-making across the ecosystem.
👉 Explore blockchain analytics shaping the future of decentralized finance.
Blockaid Enhances Security Across Wallets
Security remains paramount. That’s why Blockaid, trusted by Coinbase and MetaMask, joined the ecosystem to protect user interfaces like Lobstr.
Blockaid provides tools to detect and respond to phishing attempts, malicious contracts, and other on-chain threats—ensuring safer interactions for everyday users.
Aid: Transforming Humanitarian Finance
SDF and UNHCR Celebrate Two Years of Aid Assist
For two years, Stellar Aid Assist has transformed how humanitarian aid is delivered. The UNHCR uses it to provide direct financial assistance to displaced people in Ukraine—and now in Argentina.
In Argentina, the program supports refugee entrepreneurs with grants that maintain value despite local currency volatility. This not only empowers individuals but also strengthens local economies.
GIZ Pilots Stellar Disbursement Platform in Syria
The German government agency GIZ, alongside UOSSM and Digibank, successfully piloted the Stellar Disbursement Platform (SDP) to pay hospital workers in Syria via vetted hawala networks.
Results were striking:
- At least 25% reduction in HR processing time
- 100% participant satisfaction
SDP proves that blockchain can deliver efficient, transparent payroll in conflict zones—where traditional banking fails.
Collaboration: Empowering Builders
Draper University Launches New Accelerators
To fuel innovation, Draper University launched two accelerator programs focused on early-stage and high-growth startups building on Stellar. These initiatives aim to cultivate the next wave of blockchain pioneers.
Meridian 2024 Unites the Global Ecosystem
Over 700 ecosystem members gathered in London for the annual Stellar Meridian conference. The event celebrated builder achievements and charted the roadmap for transforming everyday financial services.
From technical deep dives to policy discussions, Meridian reinforced community-driven progress.
Over $17.4 Million Awarded via Community Fund
The Stellar Community Fund distributed more than $17.4 million in lumens to over 200 projects worldwide. Funding supported everything from new dApp development to educational content—ensuring diverse voices contribute to the network’s evolution.
Frequently Asked Questions
Q: What is Soroban?
A: Soroban is Stellar’s smart contract platform that enables developers to build fast, low-cost decentralized applications using familiar programming languages like Rust.
Q: How does passkey login work on Stellar?
A: Passkeys replace passwords and seed phrases with biometric authentication (like fingerprint or face scan), making wallet access easier and more secure.
Q: Which stablecoins are available on Stellar?
A: Major stablecoins including USDC, GYEN, ZUSD, and others are live on Stellar through integrations with Paxos, Bitstamp, and Yellow Card.
Q: Can I use Stellar without holding XLM?
A: Yes—thanks to gasless transactions in wallets like AirTM and Meru, you can use many features without needing XLM for fees.
Q: Is Stellar used outside of crypto?
A: Absolutely. Institutions like Franklin Templeton, Mastercard, Stripe, UNHCR, and GIZ use Stellar for real-world applications—from investments to humanitarian aid.
Q: How can I get funding for my project on Stellar?
A: You can apply for grants through the Stellar Community Fund, which has awarded over $17.4 million to support ecosystem growth.
👉 Join the movement redefining global finance with scalable blockchain solutions.
Looking ahead to 2025, the foundation laid in 2024 positions Stellar as a leader in equitable financial innovation. With strong infrastructure, growing adoption, and a mission-driven community, the network is ready to power the next era of inclusive finance—for everyone.