Independent thinking for complex markets and current events
It’s here. We either fight it or just give up all our freedoms. Step 2 is getting the digital readers for palm and face in place across the US and the World. Step 3 is to create and issue a digital ID via the banking system. Step 4 is to implement CBDC digital currency. Step …
by Dismal-Jellyfish Source: https://www.federalreserve.gov/newsevents/pressreleases/other20230720a.htm The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year. …
As of 3am EST the FedNow transaction network is live paving the way for real-time CBDC payments. As of July 20th, 41 banks & 15 service providers are certified to use the settlement service, including community banks & large lenders like JPMorgan Chase.https://t.co/1a4HFvD4qR — Financelot (@FinanceLancelot) July 20, 2023 "Market participants have raised concerns that …
The Federal Reserve has announced that 57 companies have completed the formal testing and certification process for FedNow, clearing them to begin using the new instant payment system once it launches later in July. https://www.kitco.com/news/2023-07-03/Federal-Reserve-reveals-the-57-companies-cleared-to-use-FedNow.html full list of participants https://www.frbservices.org/financial-services/fednow/organizations-certified Participants 1st Bank Yuma 1st Source Bank Adyen Alloya Corporate Federal Credit Union Atlantic Community …