It’s Here Now: New York Fed completes experiment using on-chain digital dollar

tldr; The Federal Reserve Bank of New York has completed a test of a central bank digital currency for wholesale, cross-border transactions. The experiment cleared payments at a virtually instant speed between a digitized dollar and eight experimental currencies run on separate blockchains. The pilot beat the average clearing and settlement of transactions from two days to under 15 seconds.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*