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Banks Consider Following JPMorgan Into Digital Currency, IBM Says – Bloomberg
IBM said at least two major U.S. banks are considering whether to follow JPMorgan Chase & Co.’s lead in issuing a stablecoin. IBM said it is also working with six non-U.S. banks on digital currencies, including BNK Financial Group Inc.’s Busan Bank in South Korea, and in the Philippines, Rizal Commercial Banking Corp., which is expected to issue a stablecoin in the second quarter. The banks are awaiting approvals from regulators.
tags: AltCoins Stablecoins Blockchain Blog Stellar Hyperledger CrossBorder CryptoAssets
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IBM launches challenge to Ripple and Swift | American Banker
The choice of Stellar is a bit surprising given that IBM has been working with the Linux Foundation on Hyperledger Fabric for years. But Hyperledger Fabric is permissioned, private distributed-ledger technology. IBM wanted something more open that any organization could join if it met certain criteria. In World Wire, IBM has created kind of a virtual private network within Stellar. Organizations can register assets and become part of the network, but IBM carefully vets each participant and validator. By contrast, Ripple says it does not know who runs the validator nodes on its distributed ledger. It’s really about knowing the validators, but without creating this walled garden that you have to have special permission to join.
tags: AltCoins Stablecoins Blockchain Blog CryptoAssets CrossBorder Hyperledger Stellar
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WeTrust – Trusted Lending Circles powered by Blockchain
WeTrust is an Ethereum-based decentralized financial services platform. WeTrust’s first product is a Trusted Lending Circle (TLC) platform. A TLC a group of individuals who agree to meet for a defined period in order to save and borrow together. TLCs are commonly built along clan, geographical, social, or professional networks. These organizations have a variety of different names such as: tontine (Cambodia), susus (Ghana/ Caribbean Islands), tandas (Latin America), hui (China), chit funds (India), cundinas (Mexico), etc… https://www.philadelphiafed.org/-/media/community-development/publications/discussion-papers/discussionpaper-ROSCAs.pdf
tags: Fintech Blockchain P2P Ethereum AltCoins Tontines Blog
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IBM Signs 6 Banks to Issue Stablecoins and Use Stellar’s XLM Cryptocurrency – CoinDesk
Six international banks have signed letters of intent to issue fiat-backed stablecoins on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders more quickly and cheaply than the legacy correspondent banking system.
tags: Blog CryptoAssets Stablecoins AltCoins CrossBorder Blockchain Hyperledger Stellar
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Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
The Everex eTHB stablecoin is equivalent to one Thai Baht and powered by Ethereum smart contracts. It is the main component of the Everex Wallet application, which allows users to deposit, send, receive and withdraw cash or transfer funds to a bank account in a number of DFC stablecoins representing different national currencies.
tags: AltCoins CryptoAssets Blog Stablecoins