Photo courtesy of money2020.com

MONEY 20/20 Asia 2019 - Marina Bay Sands, Singapore - 18-21 March 2019

• Provides real time settlement using a variety of digital assets

IBM (NYSE: IBM) today announced IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions, is officially accessible in a growing number of markets.

Designed to optimize and accelerate foreign exchange, cross border payments and remittances, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified network, while allowing participants to dynamically choose from a variety of digital assets for settlement.

Photo courtesy of money2020.com

"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.
"By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide."

IBM's Jesse Lund introduces IBM Blockchain World Wire. Photo courtesy of IBM

Today World Wire has enabled payment locations in 72 countries, with 47 currencies and 44 banking endpoints.

Local regulations will continue to guide activation, and IBM is actively growing the network with additional financial institutions globally.

Photo courtesy of IBM

World Wire provides a more straight-through model for cross border payments using the Stellar protocol that makes money transfers point-to-point in lieu of the complexities of conventional correspondent banking.

Photo courtesy of IBM

It reduces intermediaries and allows users to accelerate settlement time often in seconds by transmitting monetary value in the form of digital assets, commonly known as cryptocurrencies or "stable coins."

This simplified approach improves operational efficiency and liquidity management, streamlining payment reconciliation and reducing overall transaction costs for financial institutions.

The network already supports settlement using Stellar Lumens and a U.S. dollar stable coin through IBM's previously-announced collaboration with Stronghold.

Photo courtesy of IBM

Pending regulatory approvals and other reviews, six international banks, including Banco Bradesco, Bank Busan, and Rizal Commercial Banking Corporation (RCBC), have signed letters of intent to issue their own stable coins on World Wire, adding Euro, Indonesian Rupiah, Philippine Peso, Korean Won and Brazilian Real stable coins to the network.

IBM will continue to expand the ecosystem of settlement assets based on client demand.

Jesse Lund, Head of Blockchain & Digital Currencies, IBM. Photo courtesy of IBM

"Bradesco continuously adopts innovation that enhances customer experience and improves efficiency," said Luiz Carlos Brandao Cavalcanti Junior, Innovation and Digital Channels Executive Director, Banco Bradesco.
"The World Wire Network addresses both of these aspects, and therefore presents a valuable opportunity for Bradesco and its customers in Brazil."

Photo courtesy of IBM

"RCBC is pleased to be an early innovator with plans to issue our own Peso stable coin on World Wire, pending final approval from our regulators," said Manny T. Narcisco, First Senior Vice-President, RCBC.
"We're focused on innovation that adds value for our customers, and World Wire presents a tremendous opportunity to transform and enhance our payment infrastructure."

Photo courtesy of IBM

World Wire is now in limited production and available in a growing number of countries.

Interested organizations can learn more at
https://www.ibm.com/blockchain/solutions/world-wire  

Photo courtesy of IBM

Photo courtesy of IBM

Photo courtesy of IBM

Photo courtesy of IBM

Photo courtesy of IBM

Photo courtesy of IBM

Photo courtesy of money2020.com

About IBM

IBM is recognized as the leading enterprise blockchain provider.

The company's research, technical and business experts have broken barriers in transaction processing speeds, developed the most advanced cryptography to secure transactions, and are contributing millions of lines of open source code to advance blockchain for businesses.

IBM is the leader in open-source blockchain solutions built for the enterprise.


Since 2016, IBM has worked with hundreds of clients across financial services, supply chain, government, retail, digital rights management and healthcare to implement blockchain applications, and operates a number of networks running live and in production.

The cloud-based IBM Blockchain Platform delivers the end-to-end capabilities that clients need to quickly activate and successfully develop, operate, govern and secure their own business networks.

IBM is an early member of Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies.

For more information about IBM Blockchain, visit
https://www.ibm.com/blockchain/  

or follow us on Twitter at @ibmblockchain.

Photo courtesy of money2020.com

Media Contact:

Leesa DAlto,
Leesa.dalto@ibm.com  

Photo courtesy of IBM

Source: IBM News Room

https://newsroom.ibm.com/  



ASTROMAN Magazine - 2019.02.06

McCormick & Company and IBM Announce Collaboration Pioneering the Use of Artificial Intelligence in Flavor and Food Product Development

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2676  


ASTROMAN Magazine - 2019.02.06

ZUS wybiera IBM Z w celu zapewnienia bezpieczeństwa danych klientów

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2675  


ASTROMAN Magazine - 2019.01.09

ExxonMobil and World's Leading Research Labs Collaborate with  IBM to  Accelerate Joint Research in  Quantum Computing

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2655  


ASTROMAN Magazine - 2019.01.09

IBM Unveils World’s First Integrated Quantum Computing System for Commercial Use

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2654  


ASTROMAN Magazine - 2019.01.09

CES 2019: CTA and IBM Announce Apprenticeship Coalition to Help Close U.S. Skills Gap

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2653  


ASTROMAN Magazine - 2019.01.06

IBM CEO Ginni Rometty Delivers Opening Keynote at CES 2019 on What's Next in Artificial Intelligence, Blockchain and Quantum Computing

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2652  


ASTROMAN Magazine - 2018.12.22

IBM Research: How Tiny Fingernail Sensors and AI Can Help Clinicians to Monitor Health and Disease Progression

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2644  


ASTROMAN Magazine - 2018.12.21

IBM Expands Strategic Partnership with Samsung to Include 7nm Chip Manufacturing

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2643  


ASTROMAN Magazine - 2018.12.17

IBM: Introducing SpectrumAI with NVIDIA DGX for deep learning

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2642  


ASTROMAN Magazine - 2018.11.02

IBM Blockchain: How Dubai is Becoming the Blockchain Capital of the World

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2615  


ASTROMAN Magazine - 2018.11.01

IBM To Acquire Red Hat, Completely Changing The Cloud Landscape And Becoming World's #1 Hybrid Cloud Provider For USD 34 Billion

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2614  


ASTROMAN Magazine - 2018.10.12

IBM and NVIDIA Collaborate to Expand Open Source Machine Learning Tools for Data Scientists

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2605  


ASTROMAN Magazine - 2018.09.06

IBM think Warsaw 2018 - Technologia w służbie ludzkości - 18 września 2018, Warszawa, Hotel Hilton

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2579  


ASTROMAN Magazine - 2018.06.12

IBM Systems. Reaching the Summit: The World's Smartest Supercomputer

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2530  


ASTROMAN Magazine - 2018.03.23

How IBM Watson Assistant Helps You Treat Customers Like VIPs

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2468  


ASTROMAN Magazine - 2018.03.22

IBM Demonstrates New Breakthrough in AI Performance

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2467  


ASTROMAN Magazine - 2018.03.21

IBM Services: A New Era of the Smart Enterprise

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2466  


ASTROMAN Magazine - 2018.03.21

Think 2018 Chairman's Address: Putting Smart to Work

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2465  


ASTROMAN Magazine - 2018.01.20

IBM and Salesforce Strengthen Strategic Partnership

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2428  


ASTROMAN Magazine – 2018.01.19

Maersk and IBM to Form Joint Venture Applying Blockchain to Improve Global Trade and Digitize Supply Chains

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2427  


ASTROMAN Magazine - 2017.12.06

IBM Unveils Industry's Most Advanced Server Designed for Artificial Intelligence

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2393