IBM Hints On Stablecoin Development

IBM Hints On Stablecoin Development

That’s right; it seems that IBM is jumping on the stablecoin bandwagon. They’re basing their decision on the market demand for stablecoins, especially for financial institutions. IBM is very serious about the blockchain, and nope it seems that crypto – or rather, it’s more “fancy’ type, a stablecoin – is on their radar too.

Here is what Jesse Lund, the head of blockchain solutions for IBM, said: “It’s not a proprietary coin like JPMorgan’s solution… our view for stablecoins is really that they should be more broadly accessible and what World Wire* seeks to do is to provide fungibility of digital assets across financial institutions.”

It’s believed that IBM sees a stablecoin as a cross-border payment solution for financial institutions (namely, banks).

UPD: 6 banks have already announced their plans to issue their stablecoins based on World Wire blockchain system for international transfers.

*World Wire is a collab between IBM and Stellar.