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IBM launches a new payment system in cooperation with the Stellar Project (XLM)

IBM launches a new payment system in cooperation with the Stellar Project (XLM)

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Answer IBM launches a new payment system in cooperation with the Stellar Project (XLM)

Stellar Network (XLM) is looking to make a clear imprint in the world of blockchain through its continuous cooperation with the technology giant IBM, perhaps the latest of which is the strategic partnership to develop high-tech payment solutions capable of competing with other initiatives such as xRapid and xCurrent.

In a document published by IBM, the uses and importance of blockchain technology was addressed and indicated that it provides a new financial method capable of performing international financial settlements in real time.

She added: “Sending money internationally today requires a series of intermediaries for both clearing and settlement, and each intermediary adds more time and cost to the process. Through IBM Blockchain World Wire, we will use digital assets to settle transactions in real time and at a lower cost.”

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IBM has previously announced its desire to collaborate with the Stellar Project (XLM) to create a stablecoin to exploit the potential of blockchain technology and discover new ways to process payments.

Jesse Lund, Head of Blockchain at the company, stated that what we want to do is provide a cryptocurrency service to complete financial transactions using blockchain technology.

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And it is expected that the coming days will witness the emergence of more information about the new payments system, and how it can be a major competitor to Ripple (XRP) in the coming period.


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