Dropp, a micropayments platform built atop the Hedera Hashgraph, has been added to FedNow’s “showcase” among a variety of different tech solutions for the Federal Reserve’s payment service.

The crypto firm lets merchants accept payments for as little as a penny, making micropayments more accessible and practical. Moreover, as pointed out by FedNow, users’ credentials are not shared with the merchants using Dropp.

Launched in July, FedNow is a new instant payment service developed by the Federal Reserve that allows financial institutions of all sizes across to provide safe and efficient instant payment services.

“Dropp makes it possible for digital merchants to offer goods and services at a granular level that has not been possible affordably because of the cost of credit card transaction fees,” reads the project’s description on FedNow’s website. “Dropp opens up a digital economy of micro-purchases.”

While the inclusion of Dropp in the FedNow Service Provider Showcase list may suggest a growing interest in distributed ledger technology by the Fed, the U.S. central bank wrote in the footnotes that the materi

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Author: Andrew Asmakov

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