FedNow
The FedNow Service is an American instant payment solution developed by the Federal Reserve System of the United States.
FedNow is scheduled to begin formal certification of participants of the program in April 2023, with a formal launch planned for July 2023.1)
Criticism
According to Whitney Webb, FedNow functions as a basis for the rollout of a central bank digital currency (CBDC).2)
External links
1)
Federal Reserve announces July launch for the FedNow Service. (2023, March 15). Board of Governors of the Federal Reserve System. http://archive.today/2023.03.16-030011/https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm
2)
Unlimited Hangout. (2023, March 16). Crypto & the SVB Banking Crisis with Marty Bent & Michael Krieger. Rokfin. https://rokfin.com/post/128123