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Today we are excited to announce that Stellar is partnering with IBM and KlickEx to develop a blockchain-based cross-border payments solution proven to significantly reduce transaction costs and increase transaction speeds. This solution will help financial institutions and consumers eliminate inefficiencies and frustrations in current cross-border payment systems, including high fees, slow processing, error-prone transactions, and inefficient capital utilization.

Stellar’s technology serves as the core backbone of this cross-border payments solution. The Stellar network enables frictionless, scalable, and virtually-free cross-border payment transactions, and has been proven to be able to securely process over 1,000 transactions per second with a billion unique user accounts.

Having grown up in Oceania, Robert Bell, founder of KlickEx Group, has first-hand experience with the frustrations and inefficiencies of sending payments through underdeveloped payment corridors. He built KlickEx...

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