The Federal Reserve is advancing its integration of Hedera (HBAR) and Ripple’s XRP, focusing on Ripple USD (RLUSD) payments. Shawn revealed on X (formerly Twitter) that the move aims to enhance the FedNow payment system by incorporating stablecoin capabilities for faster, more cost-effective transactions.
Hedera’s integration into the FedNow payment platform facilitated through Dropp has already established a foundation for its use in federal-level payment systems. Now, the partnership with Ripple’s XRP suggests a broader initiative to enable RLUSD transactions, pointing toward increased interoperability between the two blockchain networks.
Hedera’s FedNow Integration and Its Expansion
Hedera is now a key player in blockchain-powered federal payment solutions because to its successful integration into the FedNow payment system. The U.S. Federal Reserve launched FedNow, a real-time payment service, with the goal of streamlining financial institution transactions. Hedera, through its micro-payments platform Dropp, supports these efforts by offering a secure and efficient blockchain framework.
Shawn’s tweet indicates that the current integration may soon expand to include more extensive features, such as enabling seamless RLUSD payments. This development marks a new phase in Hedera’s partnership with federal institutions, potentially setting a precedent for broader blockchain adoption in the financial ecosystem.
BREAKING: $HBAR integration into the Federal Reserve to expand in partnership with $XRP to enable RLUSD paymentsAfter Hedera was successfully integrated into the FedNow payment system of the U.S. Federal Reserve through dropp, there might soon be an expansion of the… pic.twitter.com/z4y0NmLJvK
— Shawn (@oroogle) November 24, 2024
Ripple USD (RLUSD) and XRP’s Role
Ripple USD (RLUSD) is a new type of digital dollar that stays equal to the real US dollar. It lets people send money across borders fast and cheap. By testing this out, the Federal Reserve shows it’s getting more serious about using blockchain to make payments work better.
The partnership between Ripple and Hedera introduces an interoperability layer that could streamline CBDC (Central Bank Digital Currency) and stablecoin settlements. This collaboration aligns with previously reported efforts to create a unified global standard for these emerging financial instruments, offering solutions for both national and international payment systems.
