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IBM is Testing Crypto Dollar, Stronghold USD

Wednesday, July 18, 2018 at 7:45pm

Cryptocurrency Stellar is given a Strong Buy rating on Coinopinions.com trading at $0,28 and off the recent news that IBM is testing Stronghold USD a beta crypto dollar cryptocurrency.  Fintech start-up Stronghold has released a stable coin or crypto dollar called Stronghold USD.  This asset backed token is one of 2 that run on the Stellar (XLM) distributed ledger technology and is FDIC insured by Prime Trust.  The Stellar network will allow for processing of hundreds of transactions per second, providing an edge over other blockchains, for example bitcoin can only support 7 transactions per second.

IBM’s objective is to reduce risk transacting in cryptocurrencies by adopting a less volatile cryptocurrency to use when making cross boarder blockchain payments. Until now the process was to convert fiat to crypto, and then crypto back to fiat.

 

See: https://www.coinopinions.com/currencies/stellar

Stable coins are becoming a huge trend in cryptocurrencies and making them feasible to transact business, especially cross boarder business. Could this trend pave the way for central banks to create their own coins? Is a fed coin or EU coin on the horizon?

Other projects offering less volatile coins include:

  • Bitshares smartcoins
  • Tether, pegged to USD
  • Circle
  • Trust Token
  • Basis