Case Study: IBM achieves real-time cross-border payments with Stronghold

IBM enables real-time cross-border payments in 70+ countries with Stronghold

IBM, a major global technology company, faced the challenge of a slow and costly correspondent banking system for cross-border payments. This system, characterized by multiple intermediaries and lengthy settlement times of 3-5 days, also struggled to meet KYC/AML requirements. To transform this process, IBM partnered with vendor Stronghold to leverage its blockchain infrastructure for the IBM World Wire network.

The solution implemented by Stronghold enabled real-time clearing and settlement for transactions on the IBM World Wire network. This created a safer virtual payment network using Stronghold's USD as a settlement vehicle. The results were significant, launching with the ability to facilitate transactions across 47 currencies in 72 countries and creating over 1081 unique currency trading pairs for a closed-loop network of financial institutions.

IBM