A cryptocurrency that aligns with fiat money, a stablecoin, is being introduced with the support of Big Blue.

Aiming to facilitate a broad spectrum of digital transactions within transactional networks utilizing digital fiat currency, IBM Corp. (services) and its startup aspire to settle these on identical blockchain platforms.

Essentially, IBM’s vision is to establish a network facilitating transaction settlements across various blockchains. “We foresee a network accommodating diverse asset classes. Digital currencies like euros, dollars, and pounds could coexist harmoniously on these networks,” explained Lund, anticipating expanded applications for digital currencies beyond the confines of cryptocurrency markets.

Bringing distinct expertise to this initiative are IBM’s partners – Stronghold and Stellar. While Stellar, akin to Ripple, concentrates on transnational transfers, its target markets differ. Ripple has established partnerships with banking entities worldwide, yet Stellar facilitates transfers in emerging economies. Stellar’s Lumens cryptocurrency, with a market valuation of $5.1 billion, is presently the sixth most valuable globally.

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