{"id":55244,"date":"2023-07-26T07:25:51","date_gmt":"2023-07-26T11:25:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=55244"},"modified":"2023-07-26T07:25:55","modified_gmt":"2023-07-26T11:25:55","slug":"ripple-partner-volante-to-take-fednow-global-after-regulation","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-partner-volante-to-take-fednow-global-after-regulation\/","title":{"rendered":"Ripple Partner Volante to Take FedNow Global After Regulation"},"content":{"rendered":"\n

The Federal Reserve <\/a>of the United States has officially launched the FedNow Service for domestic remittances<\/p>\n\n\n\n

\"\"
Ripple Partner Volante to Take FedNow Global After Regulation<\/figcaption><\/figure>\n\n\n\n

FEDNOW, the Federal Reserve's real-time gross settlement system, has been formally launched in the United States and began with only domestic transactions. This achievement represents a substantial improvement to the nation's payment system.<\/p>\n\n\n\n

Volante Technologies, \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>a Ripple client and a pioneer in cloud-based payments and financial communications has contributed to the development of the FedNow service. This may be excellent news for Ripple.<\/p>\n\n\n\n

Live On Domestic Transactions Officially<\/h2>\n\n\n\n

Implementing FEDNOW promises to provide individuals and businesses nationwide with faster and more efficient payment processing. To assure a flawless and error-free live environment, it was decided to restrict initial operations to domestic transactions.<\/p>\n\n\n\n

The introduction of FEDNOW has been avidly anticipated, and its successful implementation is considered a crucial first step toward modernizing the United States' payment system.<\/p>\n\n\n\n

Real-time operation of the new technology enables instantaneous funds transfer between institutions, expedited settlements, and enhanced overall financial efficiency.<\/p>\n\n\n\n

Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and coordinator of the FedNow program, suggested that the financial institutions become more involved. <\/p>\n\n\n\n

According to global data, the ecosystem for instant payments was valued at $100 trillion in 2021. In addition, Asian nations such as China and India dominate the market, with the U.S. joining the group somewhat later.<\/p>\n\n\n\n

What Effect Will This Have on Ripple (XRP)?<\/h3>\n\n\n\n

XRP is experiencing an uptrend, and analysts are bullish on the cryptocurrency. Technical analysts use Elliott Wave theory<\/use><\/svg><\/span><\/a> to identify recurring long-term price patterns and investor psychology, which aids in determining the direction of the trend.<\/p>\n\n\n\n

According to the most likely wave count (white), the XRP price is presently on wave four of a five-wave ascent. This indicates that the growth rate is expected to accelerate after the correction toward $1. Currently, XRP is trading at $0.697.<\/p>\n\n\n\n

Notably, this is not the first time a Ripple partner has joined the Fed in developing the FedNow payments system. Ripple partners ACI Worldwide, Volante Technologies, and Finastra have been actively developing the FedNow. <\/p>\n\n\n\n

Volante Technologies, the collaborator with the most experience in cloud payments, completed the pilot phase of the system. The two groups evaluated the “send,” “receive,” and “bank-to-bank” transmission functionalities to assist banks in adapting to the new network.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Reserve of the United States has officially launched the FedNow Service for domestic remittances FEDNOW, the Federal Reserve’s real-time gross settlement system, has been formally launched in the United States and began with only domestic transactions. This achievement represents a substantial improvement to the nation’s payment system. Volante Technologies, a Ripple client and […]<\/p>\n","protected":false},"author":53,"featured_media":55248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,24],"tags":[5709,15456,8171,15457],"class_list":["post-55244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripples-news","tag-federal-reserve","tag-fednow-2","tag-ripple-news-2","tag-volante-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/fed.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/55244","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\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=55244"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/55244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/55248"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=55244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=55244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=55244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}