Others have posted articles about this, but here is the official press release from the Federal Reserve. This video talks about use of the service. Get ready to see Zelle disappear from your bank's apps in favor of native transfer tools. With it's Request for Payment fee being one cent, as opposed to Visa's 2.3%, this could also have huge implications on how we pay for things. This technology provides a significant improvement over the current payment systems in the US, and reduces the value of arguments in favor of a CBDC, but doesn't offer the self control of funds and user privacy that crypto can.
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