The USA Federal Reserve has clarified that its new service for immediate funds between organizations, the FedNow service, just isn’t associated to central financial institution digital currencies (CBDCs).
The Fed licensed the FedNow service as “prepared” after 41 monetary establishments, 15 service suppliers and the US Treasury Division examined the system forward of its 2023 launch. July. the top However the central financial institution needed to make clear that the promise of immediate fiat funds and real-time gross settlement (RTGS) was not primarily based on aCB.
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