Stellar-Based Vibrant Wallet Surges, Driven by Adoption in High-Inflation Countries

San Francisco, July 29, 2024 — The Stellar Development Foundation (SDF), the nonprofit organization supporting the development and growth of the Stellar network, today reported annual growth metrics of Vibrant, a Stellar-based digital wallet offered by SDF’s subsidiary Sunship, Inc. From Q2 2023 to Q2 2024, Vibrant experienced a 282% increase in monthly active users globally. During this time, monthly transactions, which include inflows, outflows, and asset swaps, grew 186%.

The adoption of the Vibrant digital wallet is being led by countries with high inflation rates, particularly in Latin America. Argentina has the highest rate of Vibrant users globally, accounting for 93% of Vibrant’s user base. Monthly transacting users in Argentina grew by 282% year-over-year from Q2 2023 to Q2 2024. Following Argentina, LATAM countries like Colombia, Nicaragua, Mexico, Paraguay, and El Salvador also show strong adoption rates.

The largest influx of Argentinian users and activity was notably observed following the country’s presidential election. Blockchain technology proves particularly effective in Argentina’s macroeconomic environment. While high inflation is a well-known issue in the country, Vibrant's success is primarily driven by its user-centric approach and local partnerships which allows for a seamless user experience, enabling users to easily move funds from the traditional bank accounts but also local wallets like Mercado Pago.

“Vibrant was created to help people protect their hard-earned money by converting it to digital dollars,” said Min Lin, General Manager of the Vibrant Wallet. “Our mission is to harness the power of blockchain technology to provide real, tangible solutions for everyday Argentinians. By leveraging the stability of USDC, we aim to offer a reliable alternative that protects savings and empowers individuals to navigate these uncertain times with confidence. Our commitment is to ensure that everyone has access to financial tools that are both innovative and dependable, helping to improve daily life and economic stability across Argentina."

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About Vibrant

Vibrant is the ultimate digital wallet that allows users to store, send, receive, and cash in and cash out with USDC, a leading dollar-based stablecoin. The Vibrant wallet is designed to unlock the power of the digital dollar, giving users peace of mind when getting paid and transacting.

Vibrant's mission is to empower individuals to securely and conveniently manage their finances in the digital era. We offer users a non-custodial wallet that unlocks the power of the digital dollar, while offering cash in and out in local currencies with competitive rates and low fees thanks to the Stellar Network.

About Stellar

Stellar is more than a blockchain. Powered by a decentralized, fast, scalable, and uniquely sustainable network made for everyday financial products and services and a thriving and passionate ecosystem that includes a non-profit organization driven by a mission, Stellar is paving the path to unlock the world’s economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to innovate in decentralized finance, issue assets, and to send and convert currencies in real time creating real world utility. Founded in 2014, the Stellar Development Foundation (SDF) supports the continued development and growth of the Stellar network and also serves the ecosystem of NGOs, corporations, universities, small businesses, governments, and solo entrepreneurs building on the Stellar network through tooling, funding and strategic collaborations. Together, Stellar is where blockchain meets the real world.