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Announcement: New Way to Create a Stellar Wallet

6 months ago by Dhruv Sahni

Fireblocks is updating the process for the creation of new Stellar wallets on January 1, 2024. After this date, customers will be responsible for funding the base reserve upon creation of a new wallet on Stellar. No action is required for customers who have an existing Stellar wallet.

The Stellar blockchain has a unique requirement for all wallets to maintain a base reserve of at least 1 XLM to prevent spam and encourage responsible use of the network. To date, Fireblocks has funded new Stellar wallets with 1 XLM, so that they can be fully operational and visible on the blockchain from the point of creation.

After January 1, 2024, customers will be responsible for funding the base reserve following the process outlined below:

  1. Create a new Stellar wallet in your desired vault
  2. Select “See Deposit Address” to view the wallet’s address
  3. Deposit at least 1 XLM to the wallet address from another vault, connected exchange account, or third-party Stellar wallet

You can replicate this process each time you create a new Stellar wallet.

Find more information in the Help Center article.

For any questions, please contact Fireblocks Support by submitting a request.