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IBM Launching Stellar Cross Border Payments After Consensus

magnifying glass in hand focused on computer key with stellar logo

Confirmed in a tweet by IBM’s Vice President of Blockchain and Digital Currencies, Jesse Lund, IBM will be fully launching their cross-border payments system on the Stellar Network after the Consensus conference.

IBM holds Lumens to power our transactions on the @StellarOrg network. btw, full product launch campaign for our cross border payments product coming very soon (post @ConsenSys). XLM like ETH is the gas of Stellar, which gives it “true” utility over many other cryptos.”

A further exciting development for both Lumens and IBM stock holders, Lund also confirmed that IBM is holding Lumens to power transactions on the Stellar network, stipulating that this was one of the reasons that XLM has true utility over many other cryptocurrencies.

The exact business relationship and structure between IBM and Stellar has been the source of much debate, FUD and hype. This tweet seems to go some way to allay fears that it isn’t a one-way relationship, and that the speculative value of XLM won’t be affected by IBM’s foray into cryptocurrency- or indeed could be dropped altogether.

Lund also recently announced the departure of Michael Dowling to work full time on FairX, another equally hyped venture. Although clearly a big move, this has done little to quell the questions surrounding the exact place of FairX within the Stellar/IBM ecosystem. It certainly seems to suggest that a product launch isn’t too far away. A tweet by Dowling, through FairX, suggests that the team were waiting for final bits of legislation to crystalise before a beta launch sometime in Q2.   

Add all of these announcements to Stellar’s overall plan for 2018, and it seems evident that events in the near future are lining up nicely for the Foundation and their native digital currency.

Image From Shutterstock

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