Stellar is now part of the IBM Blockchain strategy

As announced in October last year, the Stellar-IBM partnership was used to develop IBM’s cross-border payments.

With the help of the crypto world, they wanted to make international payments easier and faster, and Stellar technology was chosen. Alongside IBM, many major banks and financial institutions followed suit.

IBM’s Blockchain market development and digital currency strategy leader Jesse Lund said Stellar is part of the IBM Blockchain platform.. Via Reddit Ask Me Anything [AMA], Lund said he’d give details on exactly how IBM works with XLM, writing:

“My name is Jesse Lund and I am head of Blockchain solutions financial service at IBM. I provide client engagement for IBM Blockchain market development, digital currency strategy, solution engineering, banking and financial services. If you ask me anything about Blockchain and cryptocurrency, I will respond via livestream.”

IBM will use Stellar for international transactions

As XLM has lost 0.59% over the last 24 hours It is currently trading at $0.23. While maintaining its 8th position in the market, its current market cap is $4.9 billion.

To summarize:

1- XLM collaborates with IBM for faster and cheaper cross-border payments

2- Stellar Lumens aims to be the primary bridging asset in IBM’s universal payment solutions.

3- IBM has no plans to create its own token, instead with the customer as money. It works over XLM.

4- While IBM creates its own solutions as an extra layer on top of the XLM system, XLM is an integral part of IBM’s strategy for the future.

5- IBM XLM intends to use it in direct competition with Ripple for cross-border transactions. Already in 2018. There are already many companies that will start making international transfers with Stellar Lumens in Q4.

Ambcrypto