IBM and Stellar – new partnership going all the way


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IBM (NYSE:IBM) is going full force into blockchain and the new type of banking – one supported by cryptocurrencies.
The tech giant is now onboarding six banks to issue stablecoins backed by fiat currency, all delivered through World Wire, which is an IBM payment platform that is built on the Stellar blockchain technology.
These six banks will have the opportunity to send payments across the stellar blockchain, either by using a stable coin or XLM tokens, all in a cheaper, faster manner. The ease and speed of sending payments was not really “helped by” regular SWIFT systems.
Three of the onboarded banks include: Banco Bradesco, RCBC and Bank Busan of South Korea. While the whole process is subject to regulatory “support” and review, the rest of the banks will provide digital versions of the Indonesian rupiah and the euro.
The more interesting part is that Ripple now officially has a serious rival in the face of Stellar. Even more so, after Stellar signed this promising partnership with the number one blockchain patent holder in the United States – IBM.
In addition, the IBM Blockchain World Wire is present in 72 countries and 47 currencies, with 44 banking endpoints and more than 1,081 unique currency trading pairs.
This is how IBM is introducing the partnership on their website:

Introducing IBM Blockchain World Wire, the new financial rail that simultaneously clears and settles cross-border payments in near real-time. Integrating with your existing payment systems, you’ll replace costly opacity with affordable transparency – and that can bring greater financial opportunity to all.

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IBM and Stellar - new partnership going all the way

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