The administrations of technogiant IBM and Stellar announced the launch of stablecoins for large banks. The launch will be based on the IBM Blockchain World Wire (BWW) blockchain platform. Therefore, they plan to launch stablecoins for the six largest international banking organizations. These banks have already concluded agreements on the use of this service.
Among the banks are: Brazilian Banco Bradesco, South Korean Bank Busan and Philippine Rizal Commercial Banking Corporation.
Some of the stablecoins will be tied to the Indonesian rupee and euro. So said the head of blockchain and cryptocurrency directions in IBM Jesse Lund.
IBM is enthusiastic about this opportunity. This is an opportunity to “build something new and revolutionary that will change the usual pattern in the area of cross-border payments”. Moreover, today 44 international banks are ready to make such payments using BWW and Stellar token (XLM). Also now the system itself supports operations with 47 currencies in 72 countries of the world.