Fitting somewhere in the middle of the debate between central bank digital currencies (CBDCs) and private stablecoins, the Federal Reserve Bank of New York’s New York Innovation Center (NYIC), which has collaborated on the project since last year, concluded that “the network has the potential to deliver improvements in the processing of wholesale payments due to its ability to synchronize U.S. dollar-denominated payments and facilitate settlement on a near-real time, 24 hours a day, 7 days a week basis.”
Related posts
-
New Global Dollar Stablecoin Backed by Robinhood, Kraken, Paxos and Other Crypto Heavies
The Global Dollar Network, whose participants will earn yield for helping foster adoption of USDG, also... -
Digital Asset Inflows Reach Record High With US Elections on the Horizon
The year-to-date inflows for digital assets hit a new... -
Citi, Fidelity Exhibit Proof-of-Concept for Real-Time Forex Swap Onchain
The proof-of-concept, which will be exhibited at the Singapore Fintech Festival from Nov. 6-8, demonstrates how...