A group of major banks have commenced a pilot project alongside the Federal Reserve Bank of New York to test the feasibility of using tokens representing digital dollars to improve how central bank money is settled between institutions.
Citi , HSBC , BNY Mellon and Wells Fargo are among the banks taking part, along with payments giant Mastercard ,The 12-week proof-of-concept pilot will explore the use of an interoperable platform known as the regulated liability network whereby banks issue tokens which are settled through simulated central bank money on a distributed ledger.
in pilots around wholesale CBDCs - fiat money in token form for exchange among financial institutions to improve existing clearing and settlement processes.
NewYorkFed JamieCrawleyCD So will digital dollar take place of stable coin in the future?🤔
NewYorkFed JamieCrawleyCD 🚨🚨 BREAKING: NEW NFT COLLECTION (C00Fi3S) TO BE MINTED ACCROSS ALL BLOCKCHAINS. THE UNPRECEDENTED COLLECTION WILL GIVE “RETAIL INVESTORS” ACCESS TO AN UNLIMITED AMOUNT OF SMACKS TO THE BACK OF THE HEAD OF ANYBODY IN WEB3 THATS FULL OF SHIT.
NewYorkFed JamieCrawleyCD Rumoured to be built on ALGO Algorand 🚀🚀🚀
NewYorkFed JamieCrawleyCD Wonder if they will be using XRP Ripple to perform this testing
NewYorkFed JamieCrawleyCD Central bank go brrrrrrrrr
NewYorkFed JamieCrawleyCD And so it begins…
NewYorkFed JamieCrawleyCD So will digital dollar take place of stable coin in the future?🤔
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: wttw - 🏆 520. / 51 Read more »