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Fed Teams Up With Major Banks to Test Digital Dollar Pilot Program

Started by Epoch-Times-Bot, Nov 16, 2022, 03:15 PM

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Epoch-Times-Bot

Fed Teams Up With Major Banks to Test Digital Dollar Pilot Program

The Federal Reserve Bank of New York announced that it would be teaming up with global financial giants to launch a 12-week digital dollar pilot program.
The New York Fed’s experiment will review how banks are able to process digital dollar tokens within the central bank system and quantify their impact, with the assistance of the some of the largest financial institutions in the world.
Citigroup, HSBC Holdings, Mastercard, and Wells Fargo & Co. were among the major banks said to be participating in the trial, which was led by the Fed’s New York Innovation Center (NYIC), according to a press statement on Nov. 15....

Source: Fed Teams Up With Major Banks to Test Digital Dollar Pilot Program

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