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On Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article about the Federal Reserve’s Fednow project and criticized the central bank’s digital currency efforts. The representative from Georgia insisted that the U.S. should return to the “gold standard” and said she’s taking
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With the emergence of the FedNow payment system, the need for a digital dollar is now being pushed back to the sidelines by the Fed leaders. The United States Federal Reserve has announced that its long-awaited FedNow Instant Payment system is set to go live in July. In the details shared
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The United States Federal Reserve has confirmed a July launch date for its long-awaited instant payments system, seen by some as an alternative to central bank digital currencies (CBDCs) and stablecoins.The instant payment network will settle payments in seconds and can support transactions between consumers, merchants and banks. It does
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Blockchain operator Tassat announced March 14 that it will provide access to the United States Federal Reserve’s FedNow payment system. FedNow, which will launch as a pilot project later this year, will provide real-time, round-the-clock payment service.Tassat will serve as a business-to-business onramp for FedNow through a client-facing application
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"The benefits of instant payments are increasingly important to consumers and businesses, and the ability to provide this service will be critical for financial institutions to remain competitive," Ken Montgomery, FedNow Service program executive, said in the central bank’s press release. Original Source
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A senior United States federal official has argued that Facebook’s Libra highlights the need for the Federal Reserve (Fed) to act urgently and launch its own real-time payments system.In a letter addressed to the Federal Reserve’s Board of Governors on Nov. 7, Rohit Chopra — a commissioner at the
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