IBM exec lets slip details of partnership with Stellar (XLM)

22 Feb, 2019 | Updated: 22 Feb, 2019
by David Robb
News
IBM exec lets slip details of partnership with Stellar (XLM)

In a recent interview with Daily Exchange, an IBM exec revealed more details about the company's partnership with Stellar (XLM). CryptoBriefing reports that blockchain VP Jesse Lund spoke about World Wire, as well as a new unnamed global payment product.

Read more: 'BTC will be $1 million someday' says Jesse Lund, VP of blockchain at IBM

Lund was speaking at the IBM Think Conference 2019, where he had previously given his thoughts about the future of Bitcoin (BTC). In this interview he explained some of the details of IBM's World Wire system, which will make use of the Stellar (XLM) blockchain to enable international remittance payments.

Speaking about how World Wire differs from XRP, he claimed that "our implementation is a little bit different. We’re not the issuer of the asset, we believe that there should be an ecosystem of digital assets that provide the settlement instruments".

Lund went on to discuss a further global payment product that will come out of the Stellar partnership, including details that he may not have been allowed to reveal. He didn't give the product a name, but claimed that "We hope to have within three to five years hundreds of endpoints, hundreds of operators providing access, enabling us to have global coverage. The ability to send money from any place in the world to any other place in the world".

In a section of the interview that IBM subsequently asked to be removed, Lund said that "we’re gonna be supporting more than 50 countries out of the gate, 30-40 currencies, and enough market makers to drag along 30 or 40 banks...our goal is to continue to expand that network and to provide global coverage within 3-5 years where you can actually send remittances in a consistent way, immediately, at a very low cost, from anywhere in the world to anywhere in the world."

Read more: What does SWIFT partnering with R3 mean for Ripple and XRP?What are the hottest cryptocurrency trends for 2019?

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Read more about: IBM Stellar (XLM)

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