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Six international banks are planning to issue stable coins on IBM's Stellar blockchain

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Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of techniques and applications of distributed ledger technology.

It turned out that a total of six international banks in Brazil, Korea, the Philippines, etc. are planning to issue stable coins on a platform based on Stella (Steller / $ XLM) provided by IBM .

IBM Blockchain World Wire, which provides inter-bank communication services similar to RippleNet, has a total of 44 international banks, including these six.

Among the banks issuing stable coins, IBM has unveiled the following three lines.

  • Brazil (Real): Banco Bradesco
  • Korea (Won): Busan Bank
  • Philippines (Peso): Rizal Commercial Banking Corporation

The names of the other three lines have not been disclosed yet, but it has been revealed that the legal currency handled is the euro and the Indonesian rupiah .

IBM Blockchain’s service, like Ripple, uses blockchain technology to streamline the mediation process that occurs in remittances between banks in countries with different legal currencies.

The big difference between the two companies is that IBM uses Stellar’s XLM token as an intermediary currency, while Ripple uses its own proprietary XRP cryptocurrency .

Article Source: IBM Blockchain is Live and Bank-Issued Stablecoins Are On Their Way

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Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/six-banks-to-issue-stablecoins-on-ibm-blockchain/

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