Home / Blockchain / IBM Hires New Blockchain Financial Services Employees to Work With the Stellar’s World Wire Ledger

IBM Hires New Blockchain Financial Services Employees to Work With the Stellar’s World Wire Ledger

IBM is currently hiring a new Offering Manager for its Blockchain Financial Services Solutions Department. The main task will be to work with the Stellar Ledger. The information was released just a few hours ago in a LinkedIn post.

The new role will be working allowing IBM Blockchain Financial Solutions clients to avail themselves of a transformational method and initiate their payments, among other things. The Stellar blockchain ledger is also used as a system to record financial transactions on the World Wire network.

This is very important for Stellar that needs to keep close to Ripple that is launching new products and using their cryptocurrency to process payments. Stellar, which uses the XLM cryptocurrency, is also a competitor for SWIFT, currently the most used platform for financial transactions.

Financial institutions connected to the World Wire network will be able to clear and settle cross-border payments in seconds. Participants are able to reduce the costs of transactions and increase their efficiency while trading.

IBM explains on the matter:

“With IBM Blockchain World Wire, clearing and settlement with finality happens in near real-time. The solution uses digital assets to settle transactions – serving as an agreed-upon store of value exchanged between parties – as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”

IBM continues to evolve and improve its services by entering the crypto and blockchain market. By adding new specialists in this area they will be growing and offering better services in the future.

There are several companies that are currently trying to offer similar services as Stellar. A more competitive market will allow companies to develop even further their best products and services.

At the time of writing this article XLM is being traded around $0.082 and it has a market capitalization of $1.59 billion. In the last 24 hours, the digital asset lost more than 3.31% of its value and it is currently the 9th largest cryptocurrency.

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