FEDNOW, the payment system built by the US Federal Reserve, launches today. It replaces FedWire, which has been around for a while. It improves a few things such like the speed of transactions; seconds rather than minutes, and will be available 24/7 365 days of the year. FedWire is only available during business hours and settles overnight. FEDNOW also reduces transaction fees to 4.5 cents per transaction when currently, on FedWire, it's arbitrary and depends on the each bank.

There has been a lot of speculation and excitement in the XRP community that FEDNOW will utilise the XRP blockchain but, as I show in this video, it will not. Instead it will use a blockchain called "Corda" built by R3. R3 is a consortium of hundreds of banks around the world.

There is a twist though, and XRP is very much connected to FEDNOW. I talk about said connection in the video. It's a longer video than usual because I took some time going through things in detail. Hope you find it of value.

Peace & Love,

Adé