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Ripple News - Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried

  • Alex Morris
    📰 News

    IBM plans to further expand its Stellar-based cross-border payment system, covering ‘a substantial portion of the world’

Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried
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IBM has big plans for Blockchain World Wire, its Stellar-powered payment system that was launched in September. Jesse Lund, Head of Blockchain Solutions at IBM, has recently revealed in an interview that a ‘a lot of announcements are coming soon’, but he already spilled the beans on some important details that might make the XLM price shoot through the roof.

👉MUST READ Bitcoin, Stellar See Massive Gains Following Launch of IBM's 'Stable Coin'

On-boarding 40 banks from the get-go   

Blockchain World Wire is yet another powerful player in the cross-border payment that aims to make unnecessary banking intermediacies obsolete. XLM poses as a viable settlement instrument in the ecosystem of cross-border payments. Lund claims that Blockchain World Wire will be supporting 50 countries out of the gate, ‘dragging along’ up to 40 banks.

Their goal is to cover a substantial portion of the world. In three years, IBM’s Stellar-based product could be used for sending cheap and fast transactions ‘to anywhere in the world.’

Will Blockchain World Wire use XRP?  

So far, the Stellar-based payment network remained in the shadow of Ripple — RippleNet has managed to connect more than 200 banks and financial organizations. However, unlike Ripple, IBM is not going to pose an issuer of a digital asset. With the help of Blockchain World Wire, they want to utilize a set of cryptocurrencies for international payments. Apart from XLM, they could use Bitcoin, stablecoins, and even XRP. IOverall, Blockchain World Wire will support more than 40 currencies.          

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Ripple News - Stellar’s Price Predicted to Keep Rising as Coinbase Listing News Pushed Gains by 30% This Week

  • Darryn Pollock
    🤷 Opinions

    ✨👑Another coin is having a successful run into its launch on Coinbase Pro, but Stellar looks set to continue gaining after a good quarter🔥 😎

Stellar’s Price Predicted to Keep Rising as Coinbase Listing News Pushed Gains by 30% This Week
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Coinbase has, over the years, been a powerful booster for the price of certain cryptocurrencies. Those that are selected by the major American exchange often see a surge in their price because of additional liquidity and access.

Stellar has become the latest cryptocurrency to ride this wave when Coinbase Pro said that it was accepting deposits of XLM, with trading support coming once sufficient liquidity is established. The process should almost be complete at the time of posting.

Stellar has posted good gains this entire week with as much as a 30 percent bump in the price of XLM preceding the news of the listing in just four days. It must be assumed that there were rumours circulating of the listing that bumped the price, but Stellar has had a successful 2019 thus far.

A coin on the move

Early in 2019, IBM, one of the biggest enterprise companies employing blockchain technology, announced that it has chosen Stellar to be a major partner in its mission to drive adoption of the technology.

From there it has been steady growth for the price of the XLM token as it proves its value as a blockchain asset that could be widely adopted by major companies thanks to the work being done by IBM.

However, it is the Coinbase listing that has helped it in the immediate future with the last seven days showing the price of the XLM token go from $0.085 to $0.11.

Stellar

 

Praise from Coinbase

Coinbase, especially its pro exchange arm, has been steadily growing its offering but in a discerning and careful manner. Coinbase has identified Stellar as a potential coin to aid in being part of a low-cost payment network.

According to Coinbase’s blog post, “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.”

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