– A Federal Reserve Bank of New York unit will partner with almost a dozen banks and other financial institutions to test out digital dollars, a sign that Wall Street intends to push ahead with its cryptocurrency agenda despite recent upheaval in the market.
Banks including Citigroup Inc. and Wells Fargo & Co. will work with the Fed’s New York Innovation Center on a new network as part of the 12-week test. The technology — known as a regulated liability network — will allow banks to simulate issuing digital money representing their customers’ own funds before settling through…. #CBDC #Crypto #Cash
Learn More: https://www.bloomberg.com/news/articles/2022-11-15/wall-street-partners-with-new-york-fed-to-test-digital-dollars?utm_source=twitter&utm_medium=social&utm_campaign=socialflow-organic&utm_content=crypto#xj4y7vzkg
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