Today IBM
announced that its
IBM World Wire blockchain payment platform is officially accessible in limited production. It has “enabled payment locations” in 72 countries with 47 currencies and 44 banking endpoints. But they aren’t all active quite yet because regulatory approval is still needed for some.
IBM says its platform is different from other payment rails in two ways. Firstly it enables messaging, clearing and settlement on a single unified network. SWIFT, for example, is a messaging platform. The second differentiator is that participants can choose from multiple digital assets for settlement. This contrasts with Ripple which exclusively uses the XRP cryptocurrency as the medium of exchange.
The World Wire cross border payment platform uses Stellar’s technology, the network founded by Jed McCaleb, who was also a Ripple founder.
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