Forex (foreign exchange) company, Currency Matters, has announced that they will be joining the IBM Blockchain World Wire network. This will give the company access to real-time global payments, access to multiple currencies, support in over 50 countries, and 30 banking endpoints.
Currency Matters is a company that facilitates foreign exchange payments. The benefit for joining this network is that the company now has access to a single cross-border payment and clearing settlement system, The IBM Blockchain World Wire network.
“We are proud and excited to have been selected as an Early Adopter and Core Member of the World Wire network. Working with IBM, Currency Matters will help to deliver a faster, more transparent, and secure cross border payments process at a much lower cost. This technology will revolutionize the global payments industry and we are delighted to play our part.” -Jon Anderson, CEO of Currency Matters
The blockchain built on the Stellar protocol gives this company a new way to improve their business since the blockchain is able to support over 50 countries, has over 20 currencies, and has 30 banking endpoints. In addition, they now have access to offer stable coins using Stellar Lumens.
“Blockchain provides a unique technology for payments. Using World Wire, participants like Currency Matters can discover each other’s capabilities, negotiate FX rates, and transfer value in real time…This reduces the need for intermediaries and long durations for clearing and settlements – which ultimately can get money into consumers’ hands faster and more cost-effectively.” Jesse Lund, Global Vice President, IBM Blockchain