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Keyword: digitalcurency

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  • Banks Wary As Fed Speeds Up Digital Currency Initiative

    04/06/2021 12:17:26 PM PDT · by EBH · 21 replies
    Payments.com ^ | March 22, 2021
    The U.S. financial services sector is getting edgy as the Federal Reserve’s initiative for a digital dollar or Fedcoin steps up its research to reveal prototypes as soon as July, Bloomberg reported on Monday (March 22). The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology, at work on the research and creation of prototypes for a Fedcoin platform, could unveil their findings in July, according to James Cunha, the project leader for the Boston, per Bloomberg. Banks fear that such a reality could cut into their own profits, prompting the industry’s central trade group — the American...