The Federal Reserve is set to introduce its digital payments system, known as FedNow, in July. This innovative system aims to enhance the speed and efficiency of monetary transactions.
Tom Barkin, the executive sponsor of the program and President of the Richmond Fed, described FedNow as an advanced payments system that is resilient, adaptive, and accessible.
FedNow is designed to facilitate various consumer activities, including bill payments, money transfers such as paychecks, government disbursements, and more, with the goal of expediting these processes and reducing costs.
In April, participants underwent a training and certification process but it's unclear how it went yet…
In anticipation of the upcoming launch, Ken Montgomery, the program executive and first vice president at the Boston Fed, encourages financial institutions and industry partners to fully prepare and join the FedNow Service.
Unlike the current system that operates with limited hours and closes on weekends, participants in the FedNow program will have continuous access, 24/7.
Advocates of the program believe that it will significantly expedite the distribution of funds to individuals. They suggest that government payments, such as those disbursed during the early stages of the Covid pandemic, would have been credited to accounts immediately rather than taking several days to reach recipients.
In fact, some Federal Reserve officials speculate that FedNow could potentially eliminate the need for a central bank digital currency, further emphasizing the system's potential impact and capabilities.
FedCoin is Here (2023-????)
Is the U.S. dollar headed to the slaughterhouse?
Given the sudden emergence of a Fed-backed digital dollar (a.k.a. FedCoin)…
I'd say kiss the greenback goodbye.
See, FedCoin isn't just theoretical anymore…
So what will FedCoin look like?… feel like?… how will it affect your wealth?… your day-to-day finances?… your investment portfolio?
I wouldn't wait to find out…
Because once FedCoin arrives…
Every dollar you own could be under Fed control.
FedCoin's underlying platform is able to process up to 1.7 million transactions per second – with 99% of all transactions completing in under a second.
So if you're a profit-motivated person…
I urge you to get positioned ahead of FedCoin's arrival… because early investors have a shot to top some of the market's biggest winners lately (i.e. gains of 182%… 373%… even 747%).
For those looking to amass wealth in 2023, ask yourself…
“Can I afford to miss such a major wealth event?”
Decide quickly, because time is running low.
Click here for the urgent details.
P.S. – America's “digital reset” isn't happening in a vacuum…
Every country of economic importance – i.e. places like the United Kingdom… Mexico.. Canada… Japan… and France – are developing their own FedCoin, which could impact over $1.25 quadrillion in global assets.
Is your portfolio positioned, accordingly?
Because whenever currencies undergo a “reset”…
Investment profits tend to be stratospheric.
If you're ready for a sneak peek at FedCoin… to see how it could function… to prepare for its deep impact on society… simply click here.
