👩‍💻 IBM signs 6 banks to issue stablecoins and use Stellar’s XLM cryptocurrency

Six banks have signed letters of intent to join IBM's World Wire, a stablecoin backed remittance and foreign exchange system run on the Stellar Lumens ($XLM) public blockchain. World Wire is still awaiting regulatory approval in many places, such as the U.S. in which IMB expects a late 2019 endpoint launch. IBM is also testing its 'pay-as-you-go' revenue model to increase profitability with the service.