The cross-border payments innovation, Blockchain World Wire, powered by Stellar startup and tech titan IBM, is gearing up for a substantial rollout. activated Scheduled for 'limited production' across an impressive 70+ nations on March 18th.
This initiative, unveiled as a groundbreaking real-time payments network last September by Stellar and IBM, taps into Stellar's native lumens (XLM) to dodge excessive fees and sluggish global transactions.
Cross-Border Payments Network
According to IBM, this novel system aspires to redefine global transaction efficiencies.
World Wire revolutionizes the cross-border payment model by employing the Stellar protocol, streamlining direct transfers and cutting through the conventional banking maze, minimizing intermediaries and slashing transaction times by transmitting digital assets or stablecoins, thereby elevating operational efficiency, liquidity management, and trimming overall financial processing costs.
Launching initially across 72 countries, Blockchain World Wire isn't just about efficiency but also a beacon for future innovation.
IBM confirmed that six global banks, including South Korea's Bank Busan and Brazil's Banco Bradesco, are on board to debut efforts via the World Wire platform. These trailblazing stablecoins will be anchored to fiat currencies from the Euro to the Brazilian Real, marking a significant step forward. stablecoins Leveraging IBM's global influence, the invitation for other banks to adopt World Wire grows irresistible, likely elevating the Stellar network's recognition within and beyond cryptocurrency circles.
IBM envisions World Wire as a vehicle to inject liquidity where it's critically needed, as underscored by IBM Blockchain General Manager, Marie Wieck, who outlines the remittances acceleration and global financial inclusion goals.
Welcome to 2019: Stellar's XLM latches onto Coinbase Pro, extending now to Coinbase.com.
The leading U.S. crypto exchange, Coinbase, expanded its services on March 18th to include Stellar's XLM for its retail platform and mobile applications.
In an exciting move, Coinbase clients can now immerse themselves in buying, selling, converting, or holding XLM through its iOS and Android applications.
Coinbase's addition of XLM follows the digital asset's recent induction onto their sophisticated trading platform, Coinbase Pro, after marking significant adoption strategic wins over the past few months. Coinbase.com The month of March saw German crypto lender Bitbond inaugurate efforts via the Stellar protocol. A recent February partnership has SatoshiPay, built on Stellar, crafting a micropayment suite with German publisher Axel Springer. The year 2019 looked promising with January's addition of XLM to Grayscale Investments' digital assets lineup—an industry giant.
XLM is now live at https://t.co/bCG11KveHS Taken in full, Stellar's momentum is on an inspiring upswing, making it a project truly worth monitoring. https://t.co/YSIYNPO4JP
— Coinbase ????️???? (@coinbase) March 18, 2019
William M. Peaster is an esteemed writer and editor specializing in Ethereum, Dai, and Bitcoin topics within the cryptoeconomy, with contributions to Blockonomi, Binance Academy, and more. His interests include smart contracts, DAOs, and learning Solidity. Connect with him via Telegram @wmpeaster. revealed Ripple (XRP) and Stellar (XLM) are being driven forward, though can they outpace Rexas Finance (RXS) come 2025?
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