C-Suite On Deck
Keep me plugged in with the best
Join thousands of your peers and receive our weekly newsletter with the latest news, industry events, customer insights, and market intelligence.
I agree to the
terms of service
PLEASE CORRECT THE FOLLOWING:
Please Enter Some Keywords
IBM launches global blockchain-based payments network
IBM today unveiled Blockchain World Wire, a near real-time global payments network based on distributed ledger technology (DLT) for regulated financial firms.The blockchain-based network will offer a new way for cross-border payment exchange and international settlement. (The settlements can be done in five to 10 seconds.) The network is currently able to transfer funds to more than 50 countries using 47 digital coins backed by fiat currencies. IBM claims its World Wire is the first blockchain network of its kind to integrate payment messaging and clearing and settlement on a single unified network while allowing participants to dynamically choose from a variety of digital assets for settlement.The first live transaction on the network took place March 8, according to Stanley Yong, CTO of IBM Blockchain for Finance. In 2017, IBM partnered with KlickEx Group, a United Nations-funded, Pacific-region financial services company, to launch its first Stellar-based blockchain financial network. That network was initially able to transfer electronic funds in 12 currencies across Pacific Islands as well as Australia, New Zealand and the U.K.
I'm for real
Enter your email once to access all our information and resources.
(Your email address is required so we know you're a real person)
By downloading this content, you give permission for your contact information to be shared with the content provider who may contact you in regards to the content.