In accordance with a Could 11 announcement by the Metallic Blockchain staff. FedNow, the Federal Reserve’s upcoming on the spot funds service, shall be built-in with the Metallic Blockchain, based on an announcement. In accordance with the announcement, the combination will enable Metallic customers to immediately convert funds to stablecoins and vice versa utilizing FedNow’s ship/obtain performance.
FedNow is an on the spot fee system developed by the US Federal Reserve. It permits virtually on the spot funds between banks 24/7. At the moment, U.S. residents can solely make on the spot funds via third-party apps like PayPal (NASDAQ: ) and Venmo, or cryptocurrency wallets. The Federal Reserve Financial institution mentioned the brand new service will begin in July.
Proceed studying Coin Telegraph.
