Six international banks announced their intention to issue their own fiat currency based stablecoin using the IBM Wire blockchain system. This is reproted by Cheddar.
The statement was made by representatives of IBM and Stellar during the Money 2020 Asia conference held in Singapore. Among those who want to issue their own "stablecoins": Brazilian Banco Bradesco, South Korean Bank Busan, as well as the Philippine Rizal Commercial Banking Corporation.
The rest of the issuers are not yet known, however, according to IBM’s blockchain head Jess Lund, some of them are going to issue stablecoins based on the Indonesian rupee and euro.
The Blockchain World Wire (BWW) platform developed by IBM and Stellar was launched last year. It allows banks to make cross-border payments in real time. To date, 44 financial institutions have connected to BWW