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IBM blockchain partners with Stellar to expand Cross-border banking networks – Cryptoline News

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According to head of IBM Blockchain development solutions Jesse Lund, this tech giant company is ready to announce its world wide wire platform. The platform will be using the Stellar protocol in order to power cross-border payments.

The head of IBM Jesse Lund explained in a report, that banks are very interested in the utilization of stablecoins, which are a form of cryptocurrencies that are designed to maintain stable prices between fiat currency measurements.

This is in order to move money more effectively move across the world and not really focused on future growth.

Compared to traditional money moving around on legacy systems, this strategy gets rid of the need for clearing houses, together with various intermediaries. This means that these cryptocurrency payments can be settled much faster and more cheaply.

A statement from the company stated;

“WE’RE REALLY FEELING EXCITED THAT WE’RE ON A ROLL TO BUILD SOMETHING NEW AND REVOLUTIONARY THAT’S REALLY GOING TO CHANGE THE LANDSCAPE OF CROSS-BORDER PAYMENTS.”

Jesse also stated that:

“I CAN CONFIRM THAT WE’RE GOING TO BE TALKING ABOUT MORE THAN A FEW BANKS AROUND THE WORLD WHO ARE VERY INTERESTED AND SEE TREMENDOUS BUSINESS BENEFITS TO ISSUE STABLECOINS IN THEIR NATIVE FIAT CURRENCY. AND THAT ONLY CREATES A BETTER ECOSYSTEM FOR PARTICIPANTS ON THE WORLD WIRE NETWORK.”

These Tech giants have been trying to appeal to mobile users on the move for a long time now. IBM is not the only incumbent trying to harness these emerging market solutions in order to revolutionize the banking industry.

JPMorgan coin and the IMB World Wire

JP Morgan became the first major bank in the US to create its own digital asset (JPM Coin) after more than a decade of this technology being around. This JPM Coin is designed to power networks for setting up payments between lenders and it clients utilizing the blockchain technology.

As Dimon mentioned:

“JPMORGAN COIN COULD BE INTERNAL, COULD BE COMMERCIAL, IT COULD ONE DAY BE CONSUMER.”

IBM was asked on how different the IBM World Wire would be from the JPM Coin, and they outlined that one of the key distinctions between JPM’s Model of exclusion and IBM model will be:

“IT’S NOT A PROPRIETARY SOLUTION LIKE JPM COIN’S SOLUTION, ALTHOUGH I THINK WHAT THEY’RE DOING MAKES A LOT OF SENSE FOR THEM. WHAT JPM IS DOING ALSO, I THINK ADDS TREMENDOUS VALIDATION TO WHAT WE’RE DOING. BUT OUR VIEW WORLD WIRE SEEKS TO DO IS PROVIDE FUNGIBILITY OF DIGITAL ASSETS ACROSS FINANCIAL INSTITUTIONS. SO I THINK THAT’S REALLY GOING TO BE THE GAME CHANGER IN THE FUTURE.”

Lund and Jed McCaleb, the co-founders of Stellar, will be giving a presentation on digital assets and banking at the upcoming Money20/20 conference in Singapore on March the 19th.

IBM will also be making an “exclusive product announcement” during the event, whether this will be related to the blockchain technology still remains to be confirmed.

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Stellar

Stellar Lumen (XLM) Price Could Continue Higher Towards $0.1400

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  • Stellar lumen price formed a solid support near $0.1180 and traded higher against the US Dollar.
  • XLM price broke the key $0.1200 and $0.1250 resistance levels to start an upward move.
  • There was a break above a major bearish trend line with resistance at $0.1250 on the 4-hours chart (data feed via Kraken).
  • The pair is currently struggling to clear $0.1300, above which it could rally towards $0.1400 or $0.1500.

Stellar lumen price is trading with a positive bias above $0.1250 against the US Dollar. XLM price is likely to break the $0.1300 barrier and extend gains towards the $0.1500 level.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price climbed higher steadily against the US Dollar. Earlier, the XLM/USD pair formed a solid support near $0.1180 and later traded higher. It remained stable above the $0.1220 level and the 55 simple moving average (4-hours). Moreover, it broke the 23.6% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low.

Finally, there was a break above a major bearish trend line with resistance at $0.1250 on the 4-hours chart. The pair even traded above the $0.1280 level and recently spiked above the $0.1300 resistance. It seems like the 50% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low is acting as a strong resistance for the bulls.

If there is an upside break above $0.1300, the price could continue to rise in the near term. An immediate resistance is near the $0.1340 level. It represents the 61.8% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low. If the price accelerates above $0.1340, it could rally towards $0.1400 or even $0.1420.

On the downside, an initial support is near the $0.1280 level. If the price starts a downside correction below $0.1280, it could test the $0.1250 support. The 55 simple moving average (4-hours) is also near the $0.1240 level to act as a support. Therefore, dips from the current level may perhaps find a strong support near $0.1250 or $0.1240.

Stellar Lumen Price Analysis (XLM to USD)

The chart indicates that XLM price is placed in a decent uptrend above $0.1250 and $0.1280. If the bulls gain strength above $0.1300, there could be continuous gains. The next stop for them could be $0.1400 or even $0.1450. On the downside, a close below $0.1240 might negate the bullish view.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is currently gaining strength in the bullish zone.

4 hours RSI – The RSI for XLM/USD is currently well above the 50 level, with a positive bias.

Key Support Levels – $0.1280 and $0.1250.

Key Resistance Levels – $0.1300, $0.1340 and $0.1400.

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Stellar Price Prediction And Analysis For June 14th – XLM Backed by the Support

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The Stellar is trying to get further up, while the traders are not being much active late this week. On Friday June 14, the XLM is trading around $0.1266.

The Stellar has been inside a correction triangle for two months; this triangle is a descending one, but the support at $0.1161 is very strong. The price is quite unlikely to break it out, but still, if this happens, the next target will be at $0.1060. Conversely, if the XLM hits the resistance at $0.1300, it may then get to $0.1622, especially in case the Stochastic forms a golden cross.

xlm price

On H1, the Stellar is testing the resistance area around $0.1300, which may lead to the price going down to the support at $0.1161. The Stochastic has meanwhile entered the overbought area and is getting ready to form a black cross, which will signal yet another downside move.

stellar xlm

The Stellar Development Foundation announced a new protocol update that is designed to boost the transaction speed and the network performance, which, in its turn, should boost the coin price. The new duplicate protocol 11 is to change the transaction operation scheme in Stellar blockchain, as well as to increase the throughput, which was very much necessary time ago. Finally, the protocol may allow the users to create better apps.

The changes in the protocol enable wider use of smart contracts, as well as creation of buy bids, while the coding process is to get much easier. This is called ManageBuyOffer. Previously, only sell bids could be created. Boosting transaction speed is a side effect. The interface won’t change much, while the buyers will be now able to see how much of an asset they are going to buy.

The XLM did not react much to the news, but, in the longer term, it must have a positive effect.

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Stellar (XLM) Price Reaches $0.13 on Top Exchanges

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Stellar (CURRENCY:XLM) traded up 2.3% against the US dollar during the one day period ending at 19:00 PM E.T. on June 12th. During the last seven days, Stellar has traded up 2.9% against the US dollar. Stellar has a market cap of $2.44 billion and $439.34 million worth of Stellar was traded on exchanges in the last day. One Stellar coin can now be purchased for $0.13 or 0.00001550 BTC on popular cryptocurrency exchanges including GOPAX, C2CX, CoinEgg and Stellar Decentralized Exchange.

Here’s how similar cryptocurrencies have performed during the last day:Get Stellar alerts: 

  • XRP (XRP) traded up 1.3% against the dollar and now trades at $0.40 or 0.00004910 BTC.
  • Binance Coin (BNB) traded up 6.9% against the dollar and now trades at $34.42 or 0.00424593 BTC.
  • Bitcoin SV (BSV) traded up 1.4% against the dollar and now trades at $189.63 or 0.02330926 BTC.
  • Tether (USDT) traded down 0% against the dollar and now trades at $1.01 or 0.00012362 BTC.
  • TRON (TRX) traded 5.5% higher against the dollar and now trades at $0.0331 or 0.00000408 BTC.
  • NEO (NEO) traded up 3.3% against the dollar and now trades at $12.78 or 0.00157639 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • Crypto.com Chain (CRO) traded up 0.8% against the dollar and now trades at $0.0678 or 0.00000836 BTC.
  • Basic Attention Token (BAT) traded 1.9% higher against the dollar and now trades at $0.33 or 0.00004106 BTC.
  • VeChain (VET) traded up 1% against the dollar and now trades at $0.0076 or 0.00000093 BTC.

About Stellar

Stellar was first traded on July 19th, 2013. Stellar’s total supply is 105,062,532,892 coins and its circulating supply is 19,399,417,541 coins. Stellar’s official Twitter account is @stellarorgand its Facebook page is accessible here. The official message board for Stellar is stellarcommunity.org. The Reddit community for Stellar is /r/stellar and the currency’s Github account can be viewed here. Stellar’s official website is www.stellar.org.

Buying and Selling Stellar

Stellar can be purchased on the following cryptocurrency exchanges: ZB.COM, OTCBTC, CoinEgg, HitBTC, Vebitcoin, Bitbns, Cryptomate, Poloniex, Liquid, CryptoMarket, BitMart, Stellar Decentralized Exchange, Upbit, Kryptono, ABCC, OKEx, Koinex, C2CX, Ovis, Koineks, Exrates, Kraken, Bitfinex, RippleFox, Gate.io, BCEX, Kuna, Exmo, Binance, Bittrex, Stronghold, Kucoin, CEX.IO, Sistemkoin, Stellarport, GOPAX, Indodax and Huobi. It is usually not possible to purchase alternative cryptocurrencies such as Stellar directly using US dollars. Investors seeking to trade Stellar should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Stellar using one of the aforementioned exchanges.

By: https://mayfieldrecorder.com/

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