FedNow, Considered To Lay The Groundwork For a US CBDC, Launches in July

A controversial plan.

Didi Rankovic

FedNow – a new US Federal Reserve’s payments system, considered by some to be the initial but concrete step to introducing a central bank-controlled currency (CBDC) – was set to launch on July 1 but is now set to launch in late July, but not without causing scathing criticism and controversy.

For right now at least, the Fed is being careful to not admit to anything of the kind – that is, that FedNow is the introductory phase to an eventual US CBDC.

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