IBM Blockchain World Wire, built on Stellar's protocol, launched as a near-real-time cross-border payments system. The platform uses digital assets to bridge fiat currencies and promises faster settlement with reduced transaction costs for financial institutions.
IBM Blockchain World Wire, developed in partnership with Stellar, is now live as a cross-border payments system enabling near-real-time settlement and clearing. The platform deploys central bank digital currencies or other digital assets to bridge between fiat currencies, with APIs allowing financial institutions to convert currencies and store transaction data on blockchain. By eliminating intermediaries in the clearing and settlement process, World Wire reduces both time and costs for cross-border transactions. IBM Head of Blockchain Solutions Jesse Lund previously outlined the vision for using blockchain to streamline global trade documentation, collateral management, and immediate payment finality for businesses and consumers.