IBM announced the launch of Blockchain World Wire or BWW payment network, which allows to simultaneously clear and settle cross-border payments in near real-time.
In a post, the company said the payments can be done in seconds using blockchain technology and the Stellar protocol. The network can be integrated to one's existing payment systems.
The new system is expected to compete with the traditional Swift payment system as well as Ripple's blockchain-based xRapid transaction solution.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.