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IBM Top Manager Shares Plans To Issue Stablecoin

14:11 18/03/2019
Tech Giant IBM Plans To Issue Own Stablecoin

IBM continues to conquer the blockchain industry. The company is going to issue its own stablecoin along with the largest banks around the world. The head of the the cryptocurrency and blockchain direction at IBM Jesse Lund shared these plans in an interview to Cheddar.


The new stablecoin will be designed for banking operations. According to Lund, it will be something revolutionary and able to change the scope of cross-border payments.


The head of the blockchain division at IBM explained that the company decided to create a stablecoin solution for banks, since there is a great demand. And banks that already issue tokens, tied to the national currency, get a huge profit. Lund also said that this would be the company's main future development.


Comparing the upcoming token with JPMorgan's stablecoin, Jesse Lund said that the IBM product will be more accessible to people, and will also ensure the interchangeability of assets in banking institutions.


Recall that JPM Coin was launched in mid-February, primarily for inner corporate operations of the leading American bank. Later JPMorgan promised to make the stablecoin available to users for retail payments, but this has not happened yet.


At the same time, the tech giant continues to actively implement its IBM Blockchain platform — since the beginning of the year, the company has launched the blockchain to import cobalt from Congo, and also announced plans to create a new decentralized system for supplies in metallurgy.


As previously reported, Paxos will release a stablecoin tied to gold.

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