The smart contract platform Cypherium will be featured in the Federal Reserve’s real-time payment services platform FedNow Service Provider Showcase, which is testing blockchain infrastructure for its services.
FedNow Service Provider Showcase launched on Tuesday, which aims to facilitate institutions and users with a range of services and help them to use FedNow service, which is going to launch in 2023.
Initially, the Showcase came with over 70 profiles and service providers that enable instant payments including a New York-based blockchain company focused on instant payment solutions, blockchain interoperability and central bank digital currencies (CBDC).
The project is also in the limelight because of its links with Chinese blockchain projects for the city’s development.
Other providers in the showcase include services like BNY Mellon Immediate Payments, Mastercard Track Business Payment Service and ePayments.
“We’re thrilled to be part of the FedNow Service Provider Showcase and look forward to helping other organizations implement instant payments,” said Sky Guo, CEO at Cypherium.
“We appreciate the commitment of Cypherium to enabling FedNow adoption and participating in the showcase,” said Nick Stanescu, Federal Reserve Bank senior vice president and FedNow business executive. “The time is now for organizations to identify and connect with partners they’ll need to build the end-to-end solutions the market is demanding.”
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