Cryptos: IBM ramps up cryto-related cross-border payments offering [MarketWatch]
International Business Machines Corporation (IBM)
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Source: MarketWatch
IBM ramps up cryto-related cross-border payments offering The cryptocurrency-based cross-border payments race is heating up. IBM Corp. IBM, -0.27% said on Monday its Blockchain World Wire initiative, a global payments network for regulated financial institutions, has entered production and will support instantaneous foreign exchange payment and settlement in more than 70 countries, supporting close to 50 currencies. International payments have long been a target for blockchain proponents that argue decentralized technology can hasten transaction times and reduce costs. “We’ve created a new type of payment network designed to accelerate remittances and transform cross-border payments to facilitate the movement of money in countries that need it most,” said Marie Wieck, general manager, IBM Blockchain, in a news release. Read: This is where cryptocurrencies are actually making a difference in the world The World Wire initiative is expected to offer competition to Ripple, one of th
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