As the Federal Reserve continues pilot testing of its new FedNow Service, it’s also readying the real-time payment infrastructure in other ways, says PYMNTS.com. Most notably, the Fed is “exploring the opportunity to build blockchain-based payment rails to move digital currency.”
The new technology has unquestionably shaken up the financial sector in the United States, but it is still “yet to be determined whether the Fed will eventually issue a digital currency” on its own, they say.
In the meantime, support for FedNow ISO 20022 is “unanimous” among payments industry stakeholders, per an early April statement from Nick Stanescu, a FedNow business executive.
This article was written by and originally published on PYMNTS.
