The Hedera Hashgraph network-based micropayments platform Dropp has been included in the list of “service provider showcase” on the Federal Reserve's FedNow payment service website.
Micropayments Platform Dropp Has Been Included In The List Of “Service Provider Showcase”
The Hedera Hashgraph network-based micropayments platform Dropp has been included in the list of “service provider showcase” on the Federal Reserve's FedNow payment service website.
Following the addition, Hedera Hashgraph's native token HBAR surged by 17% to a four-month high of $0.067.
The Federal Reserve's FedNow instant payment service, which was introduced in July, enables financial institutions to provide effective instant payment services.
Dropp makes it possible for businesses to take payments as small as one penny, making micropayments more widely available and useful. Notably, the merchants using Dropp's services are not given access to users’ credentials.
The U.S. central bank has clarified that the inclusion of Dropp in the showcase should be viewed as educational information rather than an endorsement.
Some have questioned the Federal Reserve's FedNow service's adherence to rules and its inclusion of specific banks and businesses like Adyen, which some claim do not fully satisfy the requirements to be accepted as payment providers in the United States.
