Wednesday, August 15, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Trendforce Confirms New iPhone Launch This Fall, Including a Budget Version
NVIDIA Unveils Turing Architecture, Quadro RTX Ray-Tracing GPU
AMD Says New 2nd Generation, 32-core AMD Ryzen Threadripper Processors Break Boundaries of High-End Desktop Market
HyperX Announces the HyperX Gaming microSD Cards
Fraunhofer Scientists Find Dangerous Security Holes in Tracker Apps
Samsung Announces New SmartThings Mesh Wi-Fi System
Google Tracks Your Movements No Matter What
iPhone 9 Will Feature Apple's New LCD Display Bezel Technology
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > IBM Bac...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, July 17, 2018
IBM Backs Stronghold Digital Stable Coin


IBM is backing a new cryptocurrency pegged to the U.S. dollar, in a partnership with U.S.-based financial services provider Stronghold that adds stability to a sector, the companies said.

The so-called stable coin, Bac USD, launched on Tuesday on the Stellar blockchain platform. Buyers of the coin will deposit greenbacks with the company's partner bank, Nevada-based Prime Trust for Stronghold to issue the tokens based on a 1-to-1 ratio.

Stable coins, pegged to an asset like gold, or major currencies such the U.S. dollar, have emerged as issuers seek to expand uses for digital currencies, which are unregulated and volatile. Bitcoin has fallen around 55 percent so far in 2018 against the dollar, after surging more than 1,300 percent last year.

Stronghold USDs are designed for use among businesses, such as financial institutions, multinational corporations, and asset managers, the company said. The tokens may be made available to retail customers in the coming months.

As part with the collaboration with Stronghold, IBM will explore uses for Stronghold USD within blockchain business networks on the IBM Blockchain Platform. The aim is to experiment with ways for financial institutions and other organizations to achieve faster, safer, and more efficient transaction processing and money transfer throughout the world's economy.



Previous
Next
MediaTek Introduces New Helio A Series Chipset Family for Affordable Smartphones        All News        Samsung Adds Deezer's HiFi Lossless Audio to Select Soundbar Models
Alphabet to Deploy Balloon Internet in Kenya     General Computing News      Amazon.com Faced Problems During Prime Day

Get RSS feed Easy Print E-Mail this Message

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .