Six banks join the IBM blockchain network
The technology company made the announcement with Stellar, a direct collaborator in the development of World Wide that already operates for 44 banks
Six banks in the world would be working on the issuing of their own stablecoin through the blockchain offered by IBM, World Wire.
This was announced by the technology company together with Stellar, in a speech offered during the Money 2020 Asia held in Singapore.
IBM’s cross border payment network came through Stellar’s collaboration in September 2018. Today it serves more than 44 banks.
Now, the banks that would be part of the BWW network from now on are the Bradesco Bank of Brazil, the Busan Bank of South Korea, the Rizal Commercial Banking Corporation of the Philippines, among others.
Other banks not yet disclosed will issue stablecoins backed by the euro and the Indonesian rupiah, among others, according to the head of IBM’s blockchain solutions, Jesse Lund.
“We allow the market to boost the expansion and selection of the network increasingly, and we are really excited that we are on the way to building something new and revolutionary that is really going to change the landscape of cross-border payments”, said Lund.
K. Tovar
Source: Cointelegraph
