IBM Backs New US Dollar-Pegged Stablecoin That Runs on Stellar Network

A new project for a U.S. dollar-pegged stablecoin that runs on the Stellar blockchain network has received backing from IBM, Reuters reports July 17. The new asset is dubbed ‘Stronghold USD’ after its creator, fintech startup Stronghold. The token launched today, and is reportedly issued using a 1:1 price ratio with the U.S. dollar. It is the first ever stable-value crypto project to use…

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Bank of America Reveals Blockchain Patent for External Data Validation

Bank of America (BoA) has filed a patent for a blockchain-based system allowing the external validation of data, according to a United States Patent and Trademark Office (USPTO) patent filing released July 17. BoA’s patent filing proposes using blockchain for tracking resource information and confirming resource transfers, noting that “A need currently exists for providing a…

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