Digital Bank network Metallicus obtains FedNow transaction certification

Odaily Planet Daily News Digital Bank network Metallicus announced the completion of the testing and certification phase, and launched its services on the FedNow instant payment platform of the Federal Reserve. The Federal Reserve announced on October 22 that Metal Blockchain is integrated with FedNow. The initial announcement of this partnership will be made before the launch of FedNow in mid-2023, with the goal of gradually attracting thousands of Financial Institutions to join the platform. Metal Blockchain is an L0 network developed by Metallicus based on the Avalanche branch. The developers claim that the project is designed to be secure and theoretically infinitely scalable. Information provided on the official website indicates that it is designed to “deploy an unlimited number of subnets, with each subnet 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Federal Reserve launched the FedNow payment service in July 2023, aiming to promote real-time payments and replace the outdated FedACH system. (Cointelegraph)