The rate of the cryptocurrency Stellar Lumens (XLM) has seen an increase of more than 24% in the last 10 hours. The reason could be a recent interview with Jesse Lund, the Head of Blockchain at IBM. He reveals that the Stellar network could be used by 40-50 banks.
IBM World Wire Service, powered by Stellar
At the IBM Think 2019 event finder, an Australian comparison portal with which Head of Blockchain to talk about Stellar at IBM. According to his statements, it is expected that 30-40 banks all over the world will use the Stellar-powered IBM World Wire Service. In the interview, he announces:
We will have an announcement for a publication very soon ... we will support more than 50 longer and 30-40 currencies and have market makers for 30-40 banks. We will cover a significant portion of the world with it.
The big announcement should be on March on a big one Events (supposedly the 20/20 money) in Singapore, together with the Stellar founder. In particular, stablecoins, which could be an important function for many banks in the future, are to be developed using IBM technology.
Our goal is to expand the network and achieve global availability within the next 3-5 years. The service enables immediate and constant transfers at very low costs, from anywhere in the world.
A video of the complete conversation between the YouTube channel "cryptofinder" and the Head of Blockchain at IBM can be found here:
If you don't know what Stellar is and what the network can do, we have it here an explanation for you written together.