IBM launched World Wire, a payment network built on Stellar blockchain, with six international banks signing letters of intent to issue stablecoins. The platform enables faster, cheaper cross-border payments and remittances, with operations in 72 countries and support for 48 currencies.
IBM announced World Wire, a payment network leveraging the Stellar public blockchain, with six international banks committing to issue stablecoins backed by fiat currencies. Three identified banks include RCBC (Philippines), Banco Bradesco (Brazil), and Bank Busan (South Korea), with others planning to issue euros and Indonesian rupiah pending regulatory approval. The network went live with Stronghold's USD-backed stablecoin as the initial on-ramp, operating in 72 countries with 48 currencies and 46 banking endpoints. IBM positions itself as the network operator and a trusted validator on Stellar, while the platform supports lumens as a bridge currency for difficult currency pairs. IBM plans to monetize through transaction fees on value flowing through the network, representing a new revenue model for the company in financial services.