People Confuse FedNow with Digital Dollar. Why That's a Problem.

People Confuse FedNow with Digital Dollar. Why That's a Problem.

November 30, 2023, American Banker

Judy Mok’s commentary was included in an American Banker article discussing concerns over confusion between a possible U.S. central bank digital currency and the FedNow real-time payments network.

Judy provided her insight to the article’s explanation of what FedNow is and how it works. "From a consumer perspective, it may not be obvious to them where the backend functionality comes from. Only banks can connect to FedNow. A normal mom-and-pop shop will never interact with FedNow." Judy said.