IBM has been making aggressive moves in the Stellar ecosystem.
IBM was one of the first partners in the Stellar ecosystem, helping them to host major verified nodes and do network stress testing. But, their partnership has greatly expanded since then.
Last month they announced that IBM was partnering with the Stellar based exchange Stronghold to create a USD backed stablecoin to compete with Tether.
Now, in a recent interview with the Fortune Magazine, the Senior Vice President of IBM’s Global Industries, has confirmed that the company is doubling down on adopting Stellar, and is working with “a number of major global banks” to integrate the Stellar protocol for foreign currency exchange.
While Stellar’s competitor Ripple has made massive in-roads into traditional banking markets, we suspect that IBMs deep connections with global banks (that come from decades of consulting on financial technology) will help Stellar’s non-profit attract a number of financial institutions to their ecosystem.
While Stellar already presents as a top coin by market cap, we’re very bullish on where it can go given the new partnership.
Coincheckup’s “Insider News Team” helps to monitor and report on the latest insights in the crypto space. Our newsletter subscribers get insider news 1-2 days before it appears on our blog.
Sign-up to the Coincheckup newsletter and make sure you never miss the inside scoop!