IBM's Blockchain World Wire network is officially accessible in a growing number of markets and will help financial institutions improve the services they deliver to their consumers by optimizing and accelerating foreign exchange, cross border payments and remittances.
protocol, World Wire serves as a network provider for international payments, enabling point-to-point money transfers in lieu of the complexities of conventional correspondent banking. While IBM announced an initial pilot of World Wire in October 2017, today the network is officially accessible in a growing number of markets.
We’ve created a new type of payment network that is unique in the sense that it streamlines the ability of businesses and consumers to move money around the world in real time. This enables improved transparency without sacrificing the regulatory controls and policies we need in order to make sure that there aren’t bad actors in the system.
RCBC is pleased to be an early innovator with plans to issue our own Peso stable coin on World Wire, pending final approval from our regulators," said Emmanuel Narciso, Group Head, Global Transaction Banking, RCBC."We're focused on innovation that adds value for our customers, and World Wire presents a tremendous opportunity to transform and enhance our payment infrastructure.
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