The United States Federal Reserve has officially launched its new instant payment system dubbed FedNow.
The launch comes as the Federal Reserve looks to modernize and streamline the United States’ payment system. Research on financial systems has been ongoing since 2021 FedNow enables instant payment between users and banks and boasts of its 24/7/365 operations. Users will have full access to their funds and also do not have to pay anything to join the service. The Federal Reserve expects the service to speed up the flow of money throughout the country.
According to the FedNow’s own website, the initial launch will simply focus on “core clearing and settlement capabilities” and additional features will be launched in phases, depending on industry demands and changes in technology. As more banks and credit unions adopt the service, users and businesses can expect more benefits. As of writing, early adopters of the service include big banks like JPMorgan Chase, Wells Fargo, and B
We współpracy z: https://cryptodaily.co.uk/2023/07/federal-reserve-opens-payment-platform-amid-crypto-crackdown
