IBM accomplishes cross-border payments using Stellar’s Blockchain platform
After partnering with Stellar altcoin, IBM successfully performed cross-border value transfers featuring unique currencies of South Pacific countries. The giant computer company developed a unique platform in conjunction with Stellar that uses the Lumens (XLM) and transferred value in two major currencies. They are the British Pound and Fijian Dollars.
The platform is in its early stages. However, it will be scaled up to include a total of seven currencies including the Australian Dollar, Tonga Pa’anga and the New Zealand Dollar. The Stellar Lumens acts as a bridge between these currencies. Individuals making the transactions get to enjoy instant value transfer at rock-bottom costs. Thanks to these qualities, the partnership between IBM and Stellar in this initiative will be beneficial to consumers as well as the firms involved.
Soon after the breakthrough news was announced, Stellar leapt in value.
NOV Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
