IBM Joins Two Major U.S. Banks to Issue their Own Crypto

[Goodcat49]

IBM Corp., one of the leading technology providers for creating crypto, revealed that two bullish U.S. banks are gauging the benefits of following JPMorgan’s position in issuing a stablecoin. JPMorgan is the biggest U.S. bank in terms of assets, it moves over $5 trillion in wholesale payment daily. The move by IBM threatens Ripple in one way or another.

According to the vice president of IBM Blockchain Jesse Lund, the firm has made discussions with two major lenders on issuing a crypto which is pegged 1:1 to USD. Last month, JPMorgan declared that it has issued a crypto that is tied to the USD, known as JPM Coin. The coin will use its own blockchain to speed up payments between corporate users.

“We have received interest on the heels of JPM Coin,” Lund said in a phone interview. The two other banks “reached out to us after that announcement.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ibm-joins-banks/