Final Report] Stellar Network Total Linkage with Global Financial and National Infrastructure and List of Institutional Sizes

The Stellar Network is taking a unique path of going beyond the virtual asset ecosystem and directly converging into the backend of traditional financial infrastructure. This is a breakdown of all connections that have completed official interconnection system construction, partnerships, pilot testing, etc. or are currently in operation.

  1. Huge financial clearinghouse and global capital market settlement infrastructure

• United States Securities Depository (DTCC)

It is the heart of U.S. securities trading clearing and is the world's most prestigious financial institution, with annual clearing volume of approximately $2,500 trillion (approximately KRW 33 trillion) and assets under trust of approximately $114 trillion (approximately KRW 15 trillion). With official approval from the U.S. SEC (Securities and Exchange Commission), we established a system to tokenize U.S. Treasury bonds, ETFs, and stocks included in the Russell 1000 index entrusted by our subsidiary DTC in real time on the Stellar public blockchain and manage and settle the asset life cycle.

• IBM - World Wire

It is a global IT infrastructure and virtualization solution giant with a market capitalization of approximately $150 billion. The Stellar network protocol was introduced as the basic core channel (payment rail) of 'IBM World Wire', a global financial network solution that allows commercial banks around the world to remit and directly settle foreign exchange in real time, linking banking systems around the world.

• Deloitte

It is one of the four major global accounting and management consulting alliance groups in the world. Based on the Stellar network, we have developed our own high-speed cross-border payment settlement system application for institutions and are using it as an interconnection network for internal fund settlement and multinational accounting processing for global corporate customers.

  1. Top authority asset management company and real asset tokenization (RWA)

• Franklin Templeton

It is a large global asset management company with total assets under management (AUM) of approximately $1.7 trillion (approximately KRW 2,200 trillion). The Stellar network has been adopted as the main issuing chain and digital shareholder register ledger system for 'FOBXX (BENJI token)', the first on-chain US government bond fund approved by the SEC in US history, and has been processing and linking large-scale traffic for several years.

• WisdomTree

It is a large management company listed on the New York Stock Exchange (NYSE) with total assets under management (AUM) of more than $100 billion (approximately KRW 130 trillion). By directly linking Stellar to the entire financial backend system of 'WisdomTree Prime', our dedicated digital asset wealth app, we are distributing more than 13 regulatory compliant digital assets, including US Treasury-based tokenization funds.

• Société Générale ForgeIt is a subsidiary specializing in institutional digital assets of Societe Generale, one of France's top three government-owned commercial banks and a top tier in terms of asset size in Europe. By issuing 'EURCV', a euro-linked stablecoin, directly as a native asset on the Stellar network, it is operating as a euro-denominated settlement channel for institutional investors in Europe.

• Centrifuge

It is a representative traditional-on-chain financial asset linking platform that connects on-chain real asset tokenization and institutional credit lending. By completing full technical integration with the Stellar network, we have secured an interconnection network that allows global asset owners and financial consumers in developing countries to safely process real asset-backed loans and structured finance fund investments without borders within the Stellar infrastructure.

• Spiko

We are a rapidly growing institutional asset tokenization management company focusing on the European asset market. Based on the Stellar network, we are safely issuing and distributing RWA products worth approximately $500 million by on-chaining European short-term government bonds and bonds.

• Etherfuse

An asset tokenization platform specializing in Latin American and emerging market government bonds. By issuing government bond assets from Central and South American countries such as Mexico as native asset tokens on the Stellar network, it serves as a bridge directly connecting them to the traditional retail financial market.

  1. National government agencies, central banks (CBDCs) and the United Nations (UN)

• Government of Ukraine (Ministry of Digital Transformation and Central Bank NBU)

It is the highest national administrative body that oversees a country's monetary sovereignty and financial economy (a sector worth over $170 billion in national GDP). Stellar was adopted as the pilot infrastructure for 'E-Hryvnia', the national digital currency. Currently, it is closely linked with the United Nations High Commissioner for Refugees (UNHCR) and is used as an actual government administrative network to pay Stellar blockchain-based USDC relief funds in real time to refugees affected by war.

• Central Bank of Brazil (Bacen)

It is the central bank that oversees the largest economy in the South American continent and one of the top 10 economies in the world. Stellar has been designated as the official technology partner for the development of 'Drex (Digital Real)', Brazil's official fiat digital currency project. In partnership with South America's largest cryptocurrency exchange consortium, we have successfully completed testing of our Stellar-based CBDC Minimum Viable Product (MVP).

• Bank of Thailand

It is Thailand's premier financial institution that oversees key financial hubs in the Southeast Asia region. We signed a technology linkage partnership and conducted empirical tests to verify ultra-fast fund clearing between countries in the Asian region and interoperability with other countries' CBDC systems.

• UN (United Nations Development Program - UNDP)It is the largest organization under the United Nations (UN) responsible for humanitarian relief and sustainable development in over 170 countries around the world. In order to increase transparency in the execution of funds for global relief activities and expand public digital infrastructure (DPI), the Stellar Development Foundation (SDF) has been appointed as an official blockchain advisory committee member and is operating an on-site fund payment channel in combination with the Stellar API.

  1. Global card credit network, big tech and giant stablecoin alliance

• Mastercard

It is the world's leading credit card payment and credit infrastructure company, distributing billions of cards in over 210 countries around the world. Mastercard Crypto Credential, a blockchain identity authentication and asset transfer solution developed by Mastercard, has been fully integrated with the Stellar network and Stellar-based wallet apps. A global infrastructure has been integrated that allows users to safely send and receive high-speed cross-border remittances using only their Mastercard authentication ID without complex blockchain addresses.

• OpenUSD (OUSD) Coalition of the Open Standards Foundation

It is a very large digital asset alliance of over 140 top companies that dominate the financial and tech markets, including Visa, Mastercard, BlackRock, Stripe, Coinbase, BNY Mellon, and Google Cloud. Stellar Network has been selected as one of the first officially issued and operational blockchain infrastructures for 'OUSD', the Coalition's common digital dollar asset, supporting large-scale retail and B2B settlements.

• PayPal

It is a global electronic payment dinosaur company with more than 400 million active users around the world. Through collaboration with Paxos, PayPal's own dollar stablecoin, 'PYUSD', was officially issued as a native asset on the Stellar network. Stellar's extremely low fees and high-speed infrastructure were combined with PayPal's network to create a bridge for high-speed retail payments.

• Stripe

It is a global payment solutions company worth tens of trillions of won that dominates Internet payment infrastructure standards around the world. It is a key partner that invested a large amount of seed funds from the initial stage of establishing the Stellar network, and is connecting Stellar's payment channel to one of the lower engines of Stripe's B2B payment network through the stablecoin payment interconnection network (Bridge) and the OUSD alliance chain that the company recently acquired.

• CircleIt is the world's leading digital asset issuer responsible for the regulatory-compliant stablecoin market with a market capitalization of tens of trillions of won. The core assets, Dollar Coin (USDC) and Euro Coin (EURC), are issued directly on the Stellar chain in the form of native assets without a bridge, and are being supplied as the basic foreign exchange exchange and settlement medium for global banks linked to Stellar.

  1. Traditional banking and global remittance conglomerates (capillary infrastructure)

• U.S. Bank

It is a very large traditional commercial bank that boasts the 5th largest bank in the United States based on total assets. We are working directly with large accounting firm PwC and the Stellar Development Foundation to operate our own customized stablecoin running on the Stellar blockchain network, to settle funds within the bank, and to operate a real-time payment pilot for large corporate customers.

• MoneyGram International

It is the world's second largest cross-border remittance giant with a full network of more than 400,000 physical offline branches in over 200 countries around the world. The MoneyGram computer system and the Stellar network have been integrated into one real-time system. When consumers around the world visit MoneyGram's offline stores and hand over cash bills, we have completed building a huge national infrastructure-level on/off-ramp network that converts them into Stellar-based USDC in 6 seconds and puts them in the app wallet, or, conversely, withdraws the coins in the app as physical cash at offline branches.

• German Helaba and Cashlink

It is Europe's largest specialized tokenization platform with strict approval from the German State Bank (Helaba) and the German Financial Supervisory Authority (BaFin). We are issuing and distributing digital bonds that fully comply with European legal regulations on the Stellar network, and the Stellar Foundation is deeply tied to the interconnected channels of the European institutional capital market through equity acquisition.

• Ukraine TASCOMBANK

It is a large financial institution with the longest history among Ukrainian commercial banks. We successfully completed the fiat-based electronic currency issuance and asset processing demonstration project by fully linking the Stellar blockchain API to the bank's core banking system.

• MUFG Bank of Japan (Mitsubishi UFJ Financial Group)

It is Japan's No. 1 in terms of asset size and a global top-tier mega-financial group. We have been promoting direct investment and research cooperation from the early stages of the Stellar project, and have been conducting long-term tests to improve the efficiency of linking high-speed retail payments and foreign exchange clearing networks in the Asian region.

• Euro Exim Bank and Wise

We are linking and testing the Stellar network protocol as a backend to enhance our trade finance clearing solution and reduce the cost of high-speed cross-border remittances for retail users around the world.6. Unicorn fintech and fiat currency-linked Anchor network by continent

• Flutterwave

It is the largest unicorn fintech payment company with a corporate value of billions of dollars, dominating the entire African continent. We are operating a real-time remittance network by linking the mobile money (M-Pesa, etc.) infrastructure used by more than 21 million people in Africa and the financial border between Europe and the United States with a single payment channel on the Stellar network.

• Velo Labs and Lightnet Group (Velo Labs / Lightnet)

It is Southeast Asia's largest payment and foreign exchange clearing network led by CP Group, Thailand's largest conglomerate family. The Stellar network is being adopted and utilized as the main road network for foreign exchange clearing and settlement that unites banks and remittance companies throughout Southeast Asia.

• Wirex

We are a specialized solution company for global Visa and Mastercard-linked crypto check cards used by millions of people around the world. By loading native assets and stablecoins based on the Stellar network on the card payment and wallet backend, users can transfer assets at low cost and enable immediate card payment settlement in real life.

• Anclap and Alfred Pay

It is a local fintech conduit that connects all of Central and South America, including Argentina, Brazil, Chile, Colombia, Peru, Dominican Republic, and Mexico. Latin American local fiat currency was tokenized on Stellar and organically combined with inflation hedge and ultra-fast simple payment infrastructure.

• Tempo (Tempo France)

It is an institutional central bank-approved remittance settlement company (EMI) headquartered in Paris, France. It is responsible for the Stellar-based Euro Stablecoin (EURC) payment channel and serves as a real-time currency exchange and settlement bridge network between Europe and the world.

• GMO Trust

It is the New York regulated digital asset subsidiary of GMO Internet Group, a Japanese tech and financial giant. By issuing yen stablecoins 'GYEN' and 'ZUSD' directly as native assets on the Stellar network, we are connecting high-speed institutional settlement routes for yen and dollars between Asia and the United States.

Final Conclusion and Summary

The Stellar network has perfectly established itself as the back-end computational core system where traditional finance must operate most safely and quickly, including the clearinghouse (DTCC) at the heart of the U.S. financial system, large-scale asset management worth 2,200 trillion won (Franklin Templeton), central banks on major continents (Ukraine and Brazil CBDC), and payment networks that dominate the world (Mastercard, PayPal, MoneyGram). Beyond simple virtual assets, it functions as an ‘irreplaceable public digital back-end road network’ for global financial asset distribution.Final Report] List of total financial and national infrastructure integration and institutional sizes of the Stellar Network worldwide

Stellar Network is taking a unique path that extends beyond the virtual asset ecosystem and directly integrates into the backend of traditional financial infrastructure. This is the complete enumeration of all connected parties that have completed or are actually operating official interworking system establishment, partnerships, and pilot tests.

  1. Hyper-scale financial clearinghouse and global capital market settlement infrastructure

Korea Securities Depository (DTCC)

It is the heart of clearing U.S. securities transactions and is the world's most authoritative financial institution, with annual liquidation amounts of approximately 114 trillion (about 1500 quadrillion won). With official approval from the U.S. SEC (Securities and Exchange Commission), we have established a system that real-time tokenizes U.S. Treasury bonds, ETFs, and stocks included in the Russell 1000 index, which are entrusted by our subsidiary DTC, on the Stellar Public blockchain, and manages and settles the asset lifecycle.

IBM World WireIt is a global IT infrastructure and virtualization solution giant with a market capitalization of approximately $`150 billion. The Stellar network protocol was introduced as the basic core channel (payment rail) of 'IBM World Wire,' a global financial network solution that allows commercial banks worldwide to transfer foreign exchange in real-time and settle directly, thereby integrating banking systems worldwide.

Deloitte

It is one of the world's top four global accounting and management consulting alliance groups. Based on the Stellar network, we have independently developed an application for an ultra-fast cross-border payment settlement system for institutions, utilizing it as an internal fund settlement and a multinational accounting processing linkage network for global corporate clients.

  1. Top-tier asset management firms and real asset tokenization (RWA)

Franklin Templeton

It is a global asset management company with total assets under management (AUM) of approximately `$1.7 trillion (approximately 2,200 trillion won). The Stellar network has been used as the main issuing chain and digital shareholder ledger system for 'FOBXX (BENJI Token),' the first on-chain U.S. government bond fund in U.S. history to handle large-scale traffic and integrate for several years.

Wisdom TreeIt is a large asset management company listed on the New York Stock Exchange (NYSE) with total assets under management (AUM) exceeding $`100 billion (approximately 130 trillion Korean won). We directly link Stellar across the entire financial backend system of our dedicated digital asset wealth app, 'WisdomTree Prime,' and distribute over 13 regulatory-compliant digital assets, including tokenized funds based on U.S. Treasury bonds.

Société Genérale Forge

It is a specialized digital asset subsidiary of Societe Générale, one of the top three national commercial banks in Europe with top-tier assets. We have directly issued 'EURCV,' a Euro-linked stablecoin, as a native asset on the Stellar network, operating as a Euro settlement channel for institutional investors in Europe.

Centrifuge

It is a leading traditional-on-chain financial asset linkage platform that connects on-chain real asset tokenization and institutional credit loans. By completing full-scale technological integration with Stellar Network, we have secured an interconnected network that allows global wealthy individuals and developing countries' financial needs to safely handle real asset-backed loans and structured finance fund investments without borders within Stellar's infrastructure.

SpikoWe are a rapidly growing institutional asset tokenization management company, primarily in the European asset market. Based on the Stellar network, we safely issue and distribute approximately `$500 million worth of RWA products by on-chaining European short-term government bonds and bonds.

Etherfuse

It is an asset tokenization platform specializing in government bonds from Latin America and emerging markets. It is acting as a bridge by issuing government bond assets from Latin American countries such as Mexico as unique asset tokens of the Stellar network, directly connecting them to the traditional retail financial market.

  1. National government agencies, central banks (CBDC), and the United Nations (UN)

Ukrainian government (Ministry of Digital Transformation and Central Bank NBU)

It is the highest national administrative body overseeing a nation's monetary sovereignty and financial economy (a sector with a national GDP of over $170 billion). Stella has been adopted as the pilot infrastructure for the national digital currency, 'E-Hryvnia'. Currently, it is being used in close connection with the United Nations High Commissioner for Refugees (UNHCR) to provide real-time USDC relief funds based on the Stellar blockchain to refugees affected by the war.

Central Bank of Brazil (Bacen)It is the largest economy in South America and a central bank that oversees the world's top 10 economies. Stella has been designated as the official technical partner for the development of 'Drex (Digital Real),' Brazil's official legal digital currency project. We successfully completed testing for Stellar-based CBDC Minimum Functional Product (MVP) in partnership with South America's largest cryptocurrency exchange consortium.

Bank of Thailand

It is Thailand's top financial institution, overseeing key financial hubs in the Southeast Asian region. We have entered into a technology-linked partnership and conducted demonstration tests to verify the interoperability of ultra-fast fund clearing between countries within the Asian region and interoperability with other countries' CBDC systems.

UN (United Nations Development Program - UNDP)

It is the largest organization under the United Nations (UN), responsible for humanitarian aid and sustainable development in over 170 countries worldwide. To enhance the transparency of global relief fund execution and expand public digital infrastructure (DPI), the Stella Development Foundation (SDF) has been appointed as a member of the official blockchain advisory committee, and on-site funding channels are being operated in conjunction with the Stella API.

  1. Global Card Credit Network, Big Tech, and Giant Stablecoin AllianceMastercard

It is the world's leading credit card payment and credit infrastructure company, distributing billions of cards in over 210 countries worldwide. Mastercard has fully integrated its blockchain identity verification and asset transfer solution, 'Mastercard Crypto Credential,' with Stellar Network and Stellar-based wallet apps. A global infrastructure has been integrated that allows users to securely send and receive high-speed cross-border money transfers using only their Mastercard authentication ID, without complex blockchain addresses.

OpenUSD (OUSD) Alliance of the Open Standard Foundation

It is a mega-sized digital asset alliance comprised of over 140 top-tier companies that dominate the financial and tech markets, including Visa, Mastercard, BlackRock, Stripe, Coinbase, BNY Mellon, and Google Cloud. Stellar Network has been selected as one of the first officially issued and operational blockchain infrastructures for 'OUSD,' the alliance's joint digital dollar asset, to support large-scale retail and B2B settlements.

PayPalIt is a global electronic payment giant with over 400 million active users worldwide. Through collaboration with Paxos, PayPal officially issued its own dollar stablecoin, 'PYUSD,' as a native asset on the Stellar network. Stellar's very low fees and ultra-fast infrastructure were combined with PayPal's computer network to serve as a bridge for high-speed retail payments.

Stripe

It is a global payment solution company valued at tens of trillions of won, dominating the global internet payment infrastructure standards. It is a key partner that has invested large seed funds since the initial establishment of the Stellar network, and it is connecting Stellar's payment channels as one of the underlying engines of the Stripe B2B payment network through the stablecoin payment-linked network (Bridge) and the above OUSD alliance chain that we recently acquired.

Circle

It is the world's leading digital asset issuer responsible for the regulatory-compliant stablecoin market with a market capitalization of tens of trillions of won. We are directly issuing our core assets, Dollar Coin (USDC) and Euro Coin (EURC), as bridge-free native assets on the Stellar chain, and supplying them as a basic foreign exchange exchange and settlement medium for global banks linked to Stellar.

  1. Traditional banking and global remittance conglomerates (capillary infrastructure)

U.S. BankIt is a mega-sized traditional commercial bank boasting the fifth-largest scale in the United States based on total assets. In direct collaboration with major accounting firm PwC and the Stellar Development Foundation, we operate our own customized stablecoin running on the Stellar blockchain network, managing internal bank fund settlements and real-time payment pilots for large corporate clients.

MoneyGram International

It is one of the world's two major cross-border remittance companies, having fully established a network of over 400,000 physical offline branches in over 200 countries worldwide. We integrated the Moneygram computer system and the Stellar network into one real-time entity. We have completed the construction of a massive national infrastructure-level on/off ramp network that allows consumers worldwide to exchange cash bills at a Stellar-based USDC in just 6 seconds and deposit them into the app wallet, or conversely, withdraw coins from the app as physical cash at offline branches.

Helaba Bank and Cashlink in GermanyIt is Europe's largest tokenization platform, strictly approved by the German state bank Helaba and the German Financial Supervisory Authority (BaFin). Stellar issues and distributes digital bonds that fully comply with European legal regulations on the network, and the Stellar Foundation is deeply tied to the European institutional capital market through equity acquisitions.

TASCOMBANK of Ukraine

It is the largest financial institution with the longest history among Ukrainian commercial banks. We successfully completed the demonstration project for issuing fiat-based electronic currency and handling assets by fully directly linking the Stellar blockchain API to the Core Banking System.

Japan MUFG Bank (Mitsubishi UFJ Financial Group)

It is Japan's largest asset size and a global top-tier mega-financial group. From the early stages of the Stellar project, we have been pursuing direct investment and research collaboration, and we have been conducting long-term tests for the efficiency of interlocking ultra-fast retail payments and foreign exchange clearing networks in the Asian region.

Euro Exim Bank and Wise

To enhance trade finance clearing solutions and reduce the cost of ultra-fast cross-border remittances for retail users worldwide, we are using the Stellar network protocol in conjunction with and testing it in the backend.1. Unicorn Fintech and fiat currency-linked anchor network by continent

Flutterwave

It is the largest unicorn fintech payment company with a corporate value of billions of dollars, dominating the entire African continent. The mobile money infrastructure (such as M-Pesa) used by over 21 million people in Africa and the financial borders between Europe and the United States are linked to a single payment channel through Stellar Network, operating a real-time remittance network.

Velo Labs and Lightnet Group

It is the largest settlement and foreign exchange clearing network in Southeast Asia, led by the CP Group affiliate, Thailand's largest conglomerate. The Stella network is being adopted and utilized as the main road network for foreign exchange clearing and settlement, uniting banks and money transfer operators throughout Southeast Asia.

Wireex

We are a specialized crypto check card solution provider that is used by millions of people worldwide and is linked to global Visa and Mastercard. By incorporating Stellar network-based native assets and stablecoins into the card payment and wallet backend, users can move assets at a low cost and instantly settle payments with cards in their daily lives.

Anclap and Alfred PayIt is a local fintech channel connecting all of Latin America, including Argentina, Brazil, Chile, Colombia, Peru, the Dominican Republic, and Mexico. Tokenized South American fiat currencies on Stellar, organically integrating them into inflation hedging and ultra-fast simple payment infrastructure.

Tempo (Tempo France)

It is an EMI (Equity Memory and Clearing Institute) authorized by a central bank with headquarters in Paris, France. It serves as a payment channel for Stellar-based Euro stablecoins (EURC) and acts as a real-time currency exchange and settlement bridge network between Europe and the global market.

GMO Trust

It is a digital asset subsidiary of GMO Internet Group, a major Japanese tech and financial company, within the New York regulatory framework. We directly issue the yen stablecoins 'GYEN' and 'ZUSD' as native assets to the Stellar network, connecting the ultra-fast institutional settlement route between the yen and the dollar between Asia and the United States.

Final conclusion and summaryStellar Network has perfectly established itself as the backend computer core system, where traditional finance must move most securely and quickly, from the clearinghouse (DTCC), the heart of the American financial system, to large asset management worth 2,200 trillion won (Franklin Templeton), central banks on major continents (Ukraine and Brazil CBDC), and payment networks that hold global payment hegemony (Mastercard, PayPal, and MoneyGram). It functions as an 'irreplaceable public digital backend road network' for the distribution of global financial assets, going beyond simple virtual assets.