{"id":49574,"date":"2023-05-12T11:05:45","date_gmt":"2023-05-12T15:05:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=49574"},"modified":"2023-05-12T11:05:47","modified_gmt":"2023-05-12T15:05:47","slug":"fednow-partners-with-metal-blockchain-for-stablecoin-transfers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/fednow-partners-with-metal-blockchain-for-stablecoin-transfers\/","title":{"rendered":"FedNow Partners With Metal Blockchain for Stablecoin Transfers"},"content":{"rendered":"\n

The Federal Reserve's instant payment service, FedNow,<\/a> will allow Metal Blockchain users to convert funds into stablecoins and vice versa using its “send\/receive” feature.\u00a0<\/p>\n\n\n\n

\"FedNow<\/figure>\n\n\n\n

The Solution to Instant and conditional stablecoin conversions<\/h2>\n\n\n\n

As FedNow is anticipated to launch in July, it will provide a fast and secure payment service for banks, benefitting American consumers and businesses that require these services. <\/p>\n\n\n\n

The Metal Blockchain\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> network offers a compliant and flexible crypto network for DeFi<\/a>, with identity verification, anti-money laundering features, and an “X-Chain” subnet that enables developers to create tokens with specific rules and conditions.\u00a0<\/p>\n\n\n\n

Metal Blockchain team announced on May 11 that the network would integrate with FedNow's “send\/receive” feature, allowing users to convert funds into stablecoins and vice versa instantly. <\/p>\n\n\n\n

Stablecoins are digital tokens pegged to fiat currencies or other assets used to reduce volatility and facilitate cross-border transactions. <\/p>\n\n\n\n

Consequently, this integration will allow Metal Blockchain users access to FedNow's quick and secure payment system and the network's compliance features. For instance, users can restrict stablecoins from being traded until a specific date or send them only to verified US citizens.<\/p>\n\n\n\n

A potential for creating interconnected “bank chains”<\/h3>\n\n\n\n

According to Marshall Hayner, CEO and co-founder of Metallicus<\/use><\/svg><\/span><\/a>, “the integration of FedNow and Metal Blockchain could pave the way for the creation of interconnected “bank chains.” <\/em><\/p>\n\n\n\n

These blockchain networks can communicate and process transactions without depending on external information or verification sources. <\/p>\n\n\n\n

However, this could result in a broader, more secure, and interoperable blockchain ecosystem that can support a variety of use cases and applications beyond the financial sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Reserve’s instant payment service, FedNow, will allow Metal Blockchain users to convert funds into stablecoins and vice versa using its “send\/receive” feature.\u00a0 The Solution to Instant and conditional stablecoin conversions As FedNow is anticipated to launch in July, it will provide a fast and secure payment service for banks, benefitting American consumers and […]<\/p>\n","protected":false},"author":44,"featured_media":49578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[202,13799,14467,14260],"class_list":["post-49574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-blockchain","tag-fednow","tag-metal-blockchain","tag-stablecoin-payments"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/fednow.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=49574"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/49578"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=49574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=49574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=49574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}