Mar 14, 2019 13:13 UTC
Mar 14, 2019 at 13:13 UTC
IBM To Launch its Cross-Border Payment Portal Based on Stellar, After Coinbase Pro Adds Support for XLM
Coinbase has announced that Stellar Lumen (XLM) has been listed on its Coinbase Pro platform for professionals and seasoned investors. The firm has announced that it would start accepting inbound XLM transfers on the network after 20:00 UTC.
Once the inbound traffic reaches a considerable amount, Coinbase Pro would start a number of trading pair options for Stellar Lumen which would include XLM/USD, XLM/EUR, and XLM/BTC. These trading pairs would be launched in phases. In the beginning, only post mode would be made available, and if all the metrics required are met in due time, full-fledged trading services would be opened as well.
Here is an excerpt from the blog post by Coinbase,
“Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems, and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet-connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.”
However, one must note that XLM is not available for the regular coinbase user on any of its platform, be it Android or iOS application.
IBM to Announce its Cross-Border Payment Portal Based On Stellar Soon
The announcement of the addition of XLM on coinbase comes just 6-days prior to the official launch of IBM’s cross-border payment portal based on Stellar network. IBM’s payment portal would be called IBM Blockchain World-Wire. The announcement set to happen during the Money 20/20 Aisa conference to be held in Singapore.
The announcement would be made by the company’s vice president Jesse Lund, who would be joined by Jed McCaleb, co-founder of Stellar, Ripple and Mt Gox. All these details about the event were hinted by Lund himself during a recent interview.
Here’s an excerpt from the interview,
“The architecture of World Wire is really a cross-border payment network, the magic of which is the ability to send a payment message instruction saying ‘Hey, I’m sending you something; get ready!’ and on the other end, the receiver is making sure that who you are sending it to is not some nefarious actor or bad actor, but once that happens, and that happens really fast, then we send the value along, and that transfer of value is made possible by an ecosystem of digital settlement instruments, of which [Stellar] lumens is one.”
The latest move by IBM is set to expand the crypto portfolio and move crypto in real time on the network.