The digital banking network Metallicus has obtained FedNow transaction certification

2024-10-23 10:51:09

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ChainCatcher news, the digital banking network Metallicus announced the completion of its testing and certification phase, and launched its services on the Federal Reserve's FedNow instant payment platform. The Federal Reserve announced on October 22 that Metal Blockchain has integrated with FedNow, a partnership that was initially announced before the FedNow launch in mid-2023, aiming to onboard thousands of financial institutions to the platform over time.

Metal Blockchain is an L0 network developed by Metallicus based on the Avalanche branch. Its developers claim that the project is designed to be secure and can theoretically scale infinitely. Information provided on the official website indicates that its design "allows for the deployment of an unlimited number of subnets, each capable of processing 4,500 transactions per second." The platform supports multiple programming languages and has built-in support for DApps and smart contracts.

The Federal Reserve launched the FedNow payment service in July 2023, aimed at facilitating instant payments and replacing the previously outdated FedACH system.

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