Reuters: 'IBM Partners Stronghold for New Digital Stable Coin'

International Business Machines Corp (IBM) in a partnership with U.S.-based financial services provider Stronghold launches a stable coin, Stronghold USD, on the Stellar blockchain platform, according to Reuters.com

IBM is working to build a digital currency called Stronghold USD, with reserves held by blockchain-focused asset manager Prime Trust, which is insured by the Federal Deposit Insurance Corporation. The project is intended to create a coin that is less volatile than popular virtual currencies, and to provide faster and more secure payments.

IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.

Jesse Lund, IBM’s vice president of global blockchain

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