Six Banks Plan to Use Stablecoins Under New IBM Payment Network, Based on Stellar Blockchain

  • The company recently announced on Monday that there are six international banks that have already signed letters of intent to use IBM’s payment network, World-Wire, to launch stablecoins .
  • There are payment locations for the World Wire platform in 72 countries, covering 48 currencies and 46 “banking endpoints” for the receipt and sending of cash.
  • In addition to their own token launch, the use of the Stellar network creates the option of using the company’s lumens ( XLM ) as a “bridge” crypto asset, if it proves to be difficult to trade a fiat for another fiat.
  • Speaking with CoinDesk, he expressed that the company is working to expand the stablecoin ecosystem to involve more banks and fiat currencies, along with central bank issued digital currencies.

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