FedNow Service has no relation with CBDCs, Federal Reserve clarifies

by Aurelia Butler 20 July 2023, 11:40 199 Views

The Fed certified the FedNow Service as “ready” after it onboarded 41 financial institutions, 15 service providers and the U.S. Department of the Treasury to test the system before its launch by the end of July 2023. However, the central bank had to clarify that the promise of instant fiat payments and real-time gross settlement (RTGS) is not powered by a CBDC.

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Source: Cryptocurrency - investing.com

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FedNow Service has no relation with CBDCs, Federal Reserve clarifies

Fed’s top regulatory official faces uphill battle to overhaul bank capital

Turkey raises rate by 250 bp to 17.5%, below expectations

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