IBM develops its own stablebcoin for cross-border payments

The head of blockchain and cryptocurrency trends at IBM, Jesse Lund (Jesse Lund) hinted that the bank-oriented Steablocoin will be an important development for the blockchain-based solution of cross – border payments from the technology giant. This Lund said in an interview with financial news channel Cheddar.

IBM is pushing market demand for the development of such a stableblokino, the manager said and added that more details will be announced in the coming days.

He noted that more and more banks around the world see huge benefits in launching stable tokens in national currencies. On the question of how comparable the decision of IBM with the future stable JPMorgan Chase coin, supported by the US dollar, Lund replied that their stablecoin will not be the same internal token as JPM Coin .

“This is not a proprietary coin, like the decision of JPMorgan, although I think what they are doing makes a lot of sense to them. […] What JPM is developing also adds tremendous confirmation of what we are doing. But we believe that stable coins should be more affordable, and World Wire seeks to ensure the interchangeability of digital assets in financial institutions , ”said Jesse Lund.

The IBM Blockchain World Wire (BWW) international payment network based on the Stellar blockchain was launched by the corporation last year. Lund recently stated that along with the use of the Stellar token (XLM), the company is considering the possibility of introducing into BWW and other crypto-assets: XRP , BTC , steakcoins or digital currencies of central banks (CBDC).

Recall that in the past year, IBM announced the launch of steyblcoin based on the blockchain Stellar in partnership with a startup Stronghold.

Date of publication: 16.03.2019
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