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Payments General

Currency Matters joins IBM's cross-border payment network

Monday 25 March 2019 | 10:27 AM CET

UK-based foreign currency exchange Currency Matters has joined IBM Blockchain World Wire cross-border payments network.

Approved as an Early Adopter and Core Member, Currency Matters aims to help deliver faster and secure cross-border payments. IBM’s blockchain-related initiative Blockchain World Wire is currently operating in 72 countries and with 47 currencies. The network clears and settles cross-border payments in real time, all recorded on a distributed ledger system.

IBM’s goal is to bring companies into its fold to negotiate FX rates, and facilitate the transfer of value in real time. By creating this collaboration with many cross-border payment channels, IBM is hoping to completely remove the need for intermediaries. Ultimately, the goal is to get money into consumers’ hands faster and with much less cost.

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