IBM partners Stronghold for new digital stable coin
International Business Machines Corp is backing a new cryptocurrency pegged to the U.S. dollar, in a partnership with U.S.-based financial services provider Stronghold that adds stability to a sector known for its volatility, the companies said. The so-called stable coin, Stronghold USD, launched on Tuesday on the Stellar blockchain platform. Buyers of the coin will deposit greenbacks with the company's partner bank, Nevada-based Prime Trust for Stronghold to issue the tokens based on a 1-to-1 ratio.