IBM Signs Six Banks to Issue Stablecoins on Stellar's XLM Cryptocurrency

IBM Signs Six Banks to Issue Stablecoins on Stellar's XLM Cryptocurrency IBM Signs Six Banks to Issue Stablecoins on Stellar's XLM Cryptocurrency
By Trevin Casinader - March 18, 2019

IBM announced on the 18th of March, six international banks have signed letters of intent to issue stablecoins, or tokens back by fiat currency, on IBM's World Wire, which is a payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders - remittances or foreign exchange quicker and cheaper thank the current banking system.

The network has gone live, although the individual banks are waiting on the go-ahead from the regulatory bodies that oversee them.