As Bruce WIlds noted earlier in the week, The Fed has stated that FedNow is not intended to kill or replace other money transfer options like Venmo, Cash App, PayPal, or Zelle. Instead, it is designed to work alongside the current systems built by the private sector. Still. FedNow could rapidly become a game changer. Money.com notes this FedNow is launching soon. FedNow was scheduled to begin formal certification of participants of the program in April 2023, with a formal launch planned for July 2023. It will operate on a 24-hour, 365-days-a-year basis, This new system differs from consumer-facing apps which allow instant peer-to-peer payments, FedNow won’t be an app per se. It’s more designed to allow banks to move money instantly. More than 50 financial institutions are “early adopters” of FedNow, some of the notable banks that will use FedNow include JPMorgan Chase, Wells Fargo, and Peoples Bank. https://www.zerohedge.com/personal-finance/fednow-launches-fed-reassures-public-service-has-no-relation-cbdcs