Six international banks have reportedly signed letters of intent to issue their own stablecoins backed by their national fiat currencies on IBM’s now-live blockchain-powered payments network, “World Wire.” The news was jointly announced by IBM (NYSE:IBM) and Stellar during a keynote at Money 2020 Asia in Singapore, financial news channel Cheddar reported on March 18.
As previously reported, IBM’s cross-border payment network, Blockchain World Wire (BWW) was launched in collaboration with Stellar (XLM) in September 2018. BWW, which went live today and reportedly has over 44 banks on service, aims to leverage cryptocurrencies to enable near real-time international settlements between banks.
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