Cryptocurrency & Blockchain Business

LOBSTR Partners with DigitalBits to Launch XDB Wallet

Popular cryptocurrency wallet LOBSTR, a leading supporter of Stellar Lumens (XLM) tokens, has partnered with loyalty rewards blockchain project DigitalBits (XDB) to launch a proprietary XDB digital wallet and form XDB Labs LLC.

The new company will design a digital wallet to support custody and storage of XDB and various other digital assets on the DigitalBits blockchain. It will also work towards developing tools that appeal to a variety of customers in an effort to encourage adoption of the DigitalBits blockchain and associated assets. New developments will include protocols to help integrate legacy loyalty rewards systems into the DigitalBits platform with the least amount of disruption to business operations.

LOBSTR is currently the leading wallet of choice for the storage and trade of Stellar Lumens (XLM) tokens and assets from other blockchains built on the Stellar network, like DigitalBits. LOBSTR’s XLM wallet was launched in 2015 and is available on Android, iOS and via web browsers.

The Stellar network is well known for being the main competition to Ripple (XRP) as a provider of fast and efficient cross-border payments. Stellar, however, is far more flexible for broader adoption due to it’s open-source and non-profit characteristics.

DigitalBits also operates an open-source operating model that fits well into the Stellar ecosystem. Through its tokenization of loyalty rewards programs, DigitalBits hopes to increase cryptocurrency adoption on a global scale.

“We are very excited to join the DigitalBits ecosystem and work with the people behind the project,” said Co-founder of LOBSTR, Gleb Pitsevich. We believe that applying blockchain technology to customer loyalty programs has great potential and can disrupt the legacy loyalty industry.” As Forbes reported:

Other players like LOBSTR, the leading wallet in the Stellar ecosystem, also announced this week the launch of XDB Labs LLC, and will soon introduce XDB Wallet, to support custodial and wallet storage for digital assets on the DigitalBits public blockchain. 

DigitalBits is a fork of the Stellar blockchain, serving as a protocol focused on becoming the transaction and trading layer of certain digital assets, including the points economy. 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.

Al Burgio, CEO of DigitalBits, spoke of the new partnership: “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.”

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