Tony Fabrizi Chief Executive Officer of Blue Star Capital discusses Pendulum’s blockchain bridge, “Spacewalk” which connects the Stellar and Polkadot networks, supporting the transfer of stable assets between the two ecosystems and, in time, traditional fintech meaning a potential slice of the $6.6 trillion traded daily in Forex markets.
Blue Star Capital plc, the investing company with a focus on esports, payments, technology and its applications within media and gaming, notes the recent announcement made by Pendulum, a company incubated by Blue Star’s investee company SatoshiPay, that the Pendulum blockchain has released “Spacewalk”, its blockchain bridge connecting the Stellar and Polkadot networks.
Pendulum describes Spacewalk as a trust-minimized bridge that supports the smooth and seamless transfer of stable assets between the two ecosystems, allows closer collaboration in the de-fi sector and drives synergies between traditional fintech services and the de-fi sector. Pendulum expects that the ability to use stable digital currencies backed by traditional fiat currencies will support a range of new use cases on Polkadot and Stellar.
Pendulum is committed to advancing foreign exchange (“Forex”) trading into the blockchain space to integrate a tranche of the $6.6 trillion traded daily in Forex markets. It is hoped that the Spacewalk bridge will serve as critical infrastructure to bring stablecoin liquidity required for Forex trading to Pendulum and, in turn, to all of Polkadot and Stellar.
In future, it is expected that Spacewalk will be extended to other prominent blockchain networks such as Cosmos, Ethereum, potentially enabling Spacewalk to pioneer a new era of secure and decentralised blockchain bridges, merging the technologies developed for Stellar and InterBTC.