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Crypto wallet provider Blockchain will airdrop $125 million in Stellar (XLM)

Crypto wallet provider Blockchain says it will launch what it’s calling the “largest crypto giveaway in history.” The firm will distribute $125 million in Stellar lumens (XLM) to Blockchain wallet holders who sign up for the airdrop.

The first batch of recipients will see their tokens arrive within the week, according to an announcement Tuesday. According to the Blockchain website, once the user’s identity has been verified, he/she will receive $25 worth of XLM. By verifying their identities, users will be automatically entered into additional giveaways.

Stellar becomes the first partner for Blockchain’s airdrop program and guiding framework announced last month.

Peter Smith, Blockchain CEO, said the Stellar network was chosen as it’s “built for scalability” and has “an active and growing ecosystem.”

Smith said the airdrop is intended to allow users “to test, try, trade, and transact with new, trusted cryptoassets in a safe and easy way.”

On October 25, Blockchain launched a hardware wallet for cryptocurrencies called “Blockchain Lockbox”.