Stellar’s native coin XLM has recently surged by 11% in a few hours following IBM’s move of signing up to 6 banks to use the digital asset for cross-border remittance payments.
Following the great news of IBM’s banking partnerships to use XLM and issue stablecoins, the XLM crypto saw a surge a couple of days ago as the price of XLM moved from $0.108 to $0.118 in a matter of hours.
Now, the coin is trading in the red on CoinMarketCap, and it’s priced at $0.112708.
They note that the coin has already risen by 30% from its low, but the digital asset may be still in for a bullish move after “speculation that all of IBM’s six partnered banks will use XLM for cross-border remittance payments.”
They also note that these six banks may prefer to stick to their own stablecoins backed by fiat currencies, so XLM’s price is a tough prediction. But a surge is definitely not out of the question.