IBM launched Blockchain World Wire, a payment system built on Stellar that enables near real-time cross-border settlement between financial institutions using digital assets as bridge currencies, eliminating traditional banking intermediaries.
IBM exited beta with Blockchain World Wire, a Stellar-based payment platform designed for institutions to clear and settle cross-border payments in near real-time. The system works by converting fiat currency to a digital asset (stablecoin, CBDC, or other) at one bank, transmitting it over Stellar's distributed network, and converting back to fiat at the receiving bank, with all transactions recorded immutably on-chain. IBM partnered with Stronghold on a low-volatility stablecoin running on Stellar's consensus mechanism. The product competes with Ripple's xCurrent and xRapid, and IBM plans to demo it at the Sibos banking conference. This represents IBM's continued expansion into blockchain-based financial infrastructure since beginning work with Stellar in October 2017.