Grayscale Stellar Lumens Trust Xlm 's

The competitive landscape for cross-currency transaction platforms includes consortia and private blockchain platforms such as R3’s Corda, Hyperledger, and the Enterprise Ethereum Alliance. These platforms provide financial payment networks and have established partnerships with numerous financial institutions. Unlike the Stellar Ledger, they do not necessarily require a native digital asset like XLM. Financial institutions may prefer permissioned blockchains without digital assets over the Stellar Ledger and XLM in the future. Additionally, competitors from established sectors such as banking, payments, and consumer finance may have greater influence with policymakers and regulators, which could result in laws and regulations that disadvantage the digital asset industry and affect the value of XLM.