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IBM is thinking about launching its own stablebcoin

IBM’s blockchain director Jess Lund, in a conversation with Cheddar, hinted that the future-oriented development of the technology giant could be a banking sector-oriented steakcoin. According to Lund, the “stable coin” will be used for cross-border and interbank payments. The motive for its creation was the "market demand", especially from financial institutions. He also noted that detailed information about the new […]

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IBM’s blockchain director Jess Lund, in a conversation with Cheddar, hinted that the future-oriented development of the technology giant could be a banking sector-oriented steakcoin.

According to Lund, the “stable coin” will be used for cross-border and interbank payments. The motive for its creation was the "market demand", especially from financial institutions. He also noted that detailed information about the new payment instrument will appear next week.

“Some world banks see stable prospects for business development on the basis of national currencies on the basis of national currencies ,” said an IBM representative.

On the question of how new steblecoin will look like JPM Coin , Lund answered the following:

“This is not a proprietary coin, unlike the solution from JPMorgan. However, I think what they do is of great importance to them. In our opinion, stablecoins should be much more accessible, and World Wire blockchain-solution will help ensure the interchangeability of digital assets used by financial institutions. ”

Stellar’s Universal Blockchain World Wire system allows financial institutions to instantly clear and cross-border payments. Among other advantages, the IBM platform calls transparency of operations, low costs, improved performance, a simplified form of payment for transactions and a high degree of security.

Also recall last summer, IBM and start-up Stronghold announced plans to launch USD Anchor on the Stellar blockchain.

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