Using blockchain technology and the Stellar protocol, which is a key part of the technical framework for near instant cross-border payments, IBM Blockchain World Wire makes it possible for financial institutions to clear and settle cross-border payments within seconds.
World Wire allows faster payment processing, simultaneous clearing and settlement, lower costs, increased efficiency, and simplified payment and asset type form of transaction.
Earlier in 2018, IBM has partnered with US-based settlement, processing and data solutions provider CLS to work on a proof of concept for a DLT financial platform.
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