IBM uses cryptocoins in cross-border payments

IBM announced the creation of a blockchain-based solution for cross-border payments in partnership with Stellar and KlickEx
16 October 2017   2524

The solution already performs direct transactions in 12 currency corridors on the islands of the Pacific, Australia, New Zealand and the UK. The purpose of cooperation is to enable residents and entrepreneurs from one country to easily conclude trade agreements and carry out transactions with partners from other countries easily, quickly and without waste.

To conduct transactions between different fiat currencies, a token-bridge will be used - the Crypto-currency of the Stellar system, Lumen.

When trading between multiple currencies, it helps to have a bridge currency to reduce the ledgers needed to maintain. Lumen provides that single ledger that can bridge currencies.
 

Jed McCaleb

Founder, Stellar (to Coindesk)

Additionaly, National Australia Bank, TD Bank, Advancement of Pacific Financial Infrastructure for Inclusion (APFII) and Wizdraw (HK) of WorldCom Finance took part in this project. Also, the platform is already integrated with IBM's Financial Transaction Manager, which itself is integrated with ACH, SEPA and other electronic transaction network.

Stellar Lumens price chart

This news had great effect on Lumens' price. XLM gained almost 34% in less than 24 hours!

Stellar Lumens price chart
Stellar Lumens price chart

As you can see on the chart above, there is a real price jump. At the moment, XLM is at the 13th place in Coinmarketcap cryptocurrecnies rating, with $759 800 487 market cap and $0.045805 price. 

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   66

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.