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IBM Signs 6 Banks to Issue Stablecoins and Use Stellar’s XLM Cryptocurrency

Announced Monday, six international banks have signed letters of intent to issue stablecoins, or tokens backed by fiat currency, on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders — remittances or foreign exchange — more quickly and cheaply than the legacy correspondent banking system. So far three of the banks have been identified — Philippines-based RCBC, Brazil’s Banco Bradesco, and Bank Busan of South Korea — the rest, which are soon to be named, will offer digital versions of euros and Indonesian rupiah, “pending regulatory approvals and other reviews,” IBM said. The network went live Monday, although while the banks await their regulators’ blessings, the one stablecoin running on World Wire at the moment is a previously announced U.S. dollar-backed token created by Stronghold, a startup based in San Francisco.

Source: IBM Signs 6 Banks to Issue Stablecoins and Use Stellar’s XLM Cryptocurrency

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Spanish Port Authority Joins Blockchain Platform Developed by IBM and Maersk

The Port Authority of the Bay of Algeciras (APBA) has signed an agreement under which it will collaborate with IBM on its shipping platform Tradelens, Europa News reported on Jan. 21. Tradelens is a digital platform based on blockchain technology developed by both IBM and international shipping giant Maersk. Algeciras is one of the top 10 busiest ports in Europe, hosting over 70 million tons of cargo traffic annually. In 2017, the port had a container throughput of 4.3 million containers………

Source: Spanish Port Authority Joins Blockchain Platform Developed by IBM and Maersk

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