Tag: U.S. Bank

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New York Federal Reserve and US Banks Complete Programmable Dollar CBDC Test

July 8, 2023

The New York Federal Reserve and a group of financial institutions announced the successful conclusion of a proof-of-concept of the Regulated Liability Network (RLN), which contemplates the introduction of a dollar-based interbank central bank digital currency (CBDC). The test concluded that, using the RLN, the proposed CBDC might allow for near real-time dollar payments and…
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New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’

November 20, 2022

Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept will be done in a…
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