CBDCs Killed By FedNow? 🩸🏴☠️
FedNow vastly improves upon traditional interbank settlement systems like FedWire or ACH systems.
Scheduled to launch by July 2023, FedNow vastly improves upon traditional interbank settlement systems like FedWire or ACH systems. It offers superior costs, scale, features, and intraday finality. Put simply, FedNow almost completely obviates the need for a US central bank digital currency (CBDC). But what does this mean for Cryptocurrencies (Bitcoin and Ethereum) and stablecoins?
PBN Research
FedNow for Business
Crypto vs FedNow
https://protos.com/fednow-could-outcompete-almost-every-crypto-project-in-existence/
FedNow almost completely obviates the need for a US central bank digital currency (CBDC).
FedNow also promises lower costs than almost any blockchain in existence.
Specifically, the Federal Reserve will charge most financial institutions a de minimus $25 monthly access fee — a fraction of the cost of running a single node on most public blockchains. For payments up to $100,000, FedNow will charge just 4.5 cents per transaction paid by the sender plus 1 cent per transaction request paid by the requester.
White House Report: FedNow vs CBDC
https://finadium.com/us-white-house-economics-report-considers-fednow-vs-cbdc/
FedNow is intended to mainly focus on domestic payments and may bring limited improvements to the cross-border payment system, at least initially. In addition, FedNow is not a digital asset, which can be used in settlements or provide transaction programmability, roles that circulating digital money could play in the globally integrated financial system.
~This episode is sponsored by iTrust Capital~ iTrustCapital | Get $100 Funding Reward + No Monthly Fees when you sign up using our custom link! ➜ https://bit.ly/iTrustPaul