Grayscale Investments, the digital asset management firm operating under the Digital Currency Group umbrella, is adding support for Stellar lumens with a new investment product.
The company announced Thursday that it was launching the Stellar Lumens Trust, a "single-asset investment product" which exposes investors to lumens (XLM), the native asset of the Stellar network. Grayscale already offers single-asset trusts for a number of other cryptocurrencies, including bitcoin, bitcoin cash, ethereum, ethereum classic, zen, litecoin, XRP and zcash.
The Stellar blockchain was built as a low-cost payment network, Grayscale noted in a press release, with the goal of providing impoverished communities with access to financial services. Founded by Jed McCaleb, the Stellar project has notably attracted the interest of IBM (NYSE:IBM), which is building a cross-border payment rail on top of the network.