Prominent cryptocurrency wallet provider launches new custody and wallet platform for the DigitalBits blockchain to safely and securely store digital assets
LOBSTR, the leading wallet in the Stellar ecosystem, announced today the launch of XDB Labs LLC, and will soon launch XDB Wallet, to support custodial and wallet storage for digital assets on the DigitalBits blockchain. Recently launched, DigitalBits, a fork of the Stellar blockchain, is a protocol focused on becoming the transaction and trading layer of certain digital assets, including the points economy.
XDB Labs has been created to support and encourage adoption of the DigitalBits blockchain through the use of consumer-friendly tools. With the development of secure and simple storage solutions, suitable for both consumers and enterprises, the mission is to provide comprehensive options for users of all variety. XDB Labs’ inaugural product, XDB Wallet, will act as a complete solution to manage and hold the DigitalBits native token, XDB, as well as other assets built on the DigitalBits blockchain. With an expected $20 billion poised to flow into custody solutions once available, XDB Labs’ solutions will benefit the growing number of those holding digital assets.
CEO of the DigitalBits Foundation, Al Burgio, said “We are excited to have the LOBSTR team join our partner ecosystem and build out a range of leading custodial and wallet solutions in the DigitalBits ecosystem. XDB Wallet will not only make management of digital assets, such as loyalty and rewards points, simpler, but also provide incomparable levels of security for its users.”
LOBSTR is a simple and secure cryptocurrency wallet for storing Stellar’s native currency, Lumens (XLM), in addition to a host of other assets built on the Stellar blockchain. Stellar is an open-source protocol for exchanging money that allows users to send cross-border payments in seconds, reliably and with extremely low fees. XDB Labs will benefit from the years of experience involved in operating LOBSTR.
Co-founder of LOBSTR, Gleb Pitsevich, said “We are very excited to join the DigitalBits ecosystem and work with the people behind the project. We believe that applying blockchain technology to customer loyalty programs has great potential and can disrupt the legacy loyalty industry. The underlying technology of the DigitalBits blockchain network is similar to what is used in Stellar and we will apply all the experience and knowledge we received from LOBSTR to help build a great platform for managing XDB and other digital assets issued on DigitalBits network.”
The DigitalBits blockchain, a protocol focused on becoming the transaction and trading layer of certain digital assets, including the points economy, is seeking to create a marketplace where consumers can trade and store digital assets such as loyalty points. With a third of all loyalty points going unredeemed each year, at a value totalling approximately $16 billion in the US alone, this is an industry with the potential to be radically advanced through the advantages blockchain technology can provide such as portability and near-instant transactions.
The DigitalBits Foundation supports the DigitalBits™ open-source project by providing development resources, infrastructure, events and education. DigitalBits is focused on closing the gap between Blockchain innovation and driving mass adoption. The DigitalBits blockchain is a transaction and trading layer for digital assets, including the points economy. It is designed to enable mass market liquidity of fragmented digital assets.It’s native digital asset (“digitalbits” or “XDB”) secures the blockchain network, enables functional use of wallets, and is required to cover nominal transaction fees on the network. DigitalBits is targeting the multi-billion dollar loyalty and rewards market as a first use-case to tokenize legacy points already in the pockets of a large portion of society. The DigitalBits blockchain will achieve this by enabling large scale companies to integrate their loyalty and rewards programs and in turn migrate millions of active wallets onto the DigitalBits blockchain. For more information, please visit www.digitalbits.io.
LOBSTR is a simple and secure Stellar Lumens (XLM) Wallet, available on Android, iOS and Web Launched in March 2015, it has grown into the most popular wallet in the Stellar community. With LOBSTR, users can send and request transactions, track XLM and asset prices with charts, exchange Stellar assets on DEX and a lot more. For more information please visit https://lobstr.co.
About XDB Labs:
Formed by the founders of LOBSTR, XDB Labs LLC is a company focused on the development of secure and simple storage cryptocurrency solutions, suitable for both consumers and enterprises. The mission of XDB Labs is to provide comprehensive options for users of all variety. XDB Labs’ inaugural product, XDB Wallet, will act as a complete solution to manage and hold the DigitalBits native token, XDB, as well as other tokenized assets built on the DigitalBits blockchain.
All trademarks referenced in this press release are the property of their respective owners.
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The digitalbits tokens, and most virtual currencies are not generally deemed to be legal tender in any country, and are not backed by any government as legal tender, nor should they be treated as such.
This announcement does not constitute a prospectus of any sort; it is not a solicitation for investment and does not in any way pertain to an offering of securities in any country.
This release constitutes a description of the DigitalBits Network and the functionality of digitalbits tokens; it is for informational purposes only and may change as the technology develops over time.