American multinational information technology company IBM is ready to co-operate with Facebook on its upcoming stablecoin Libra, CNBC reports citing IBM's executive.
IBM’s General Manager of Blockchain Services Jason Kelley claims the tech giant is actively looking "to foster collaboration across industries when it comes to a technology like blockchain."
"Blockchain is a team sport. Our clients are ready to work with [Facebook] and we’re ready to work with all of them to bring it together," Kelley told CNBC on Monday.
However, it's still unknown whether IBM has joined a non-profit association Libra Association or not.
Earlier iHodl reported that Facebook will launch its own stablecoin Libra in the second half of 2020.
In addition to that, it's expected that the upcoming stablecoin will be backed by the euro, the yen, the pound sterling, and the Singapore dollar, with 18%, 14%, 11%, and 7%, respectively.
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