Metallicus Supports the FedNow® Service, Advancing U.S. Payment System

SAN FRANCISCO, October 22, 2024 (Newswire.com) - Metallicus announced today it is now supporting live transactions on Federal Reserve Financial Services’ instant payment rail, the FedNow Service. Metallicus joins a lineup of service providers facilitating transaction activity for financial institutions on the service. 

Through the FedNow Service, Metallicus will enhance their current offerings to financial institutions via traditional payments channels and will now have access to instant payments for immediate clearing and settlement of conventional transactions, helping them remain competitive and offer best-in-class service for their customers. 

To support transaction activities for financial institutions participating in the FedNow Service, Metallicus completed a multi-step customer testing and certification program. The FedNow Service network includes a diverse range of financial institutions and service providers across the U.S. 

“Metallicus has worked diligently to be certified as a service provider to financial institutions on the FedNow Service,” said Don Berk, COO of Metallicus, who brings over 25 years of banking experience to the company. “We have been working closely with our banking partners and engineering team to secure this certification, bringing even greater connectivity to the Metallicus Digital Banking Network. This certification underscores our dedication to innovation and excellence in the fintech industry.”

Metallicus joins several dozen service providers and more than 1,000 financial institutions that have adopted the FedNow Service since its launch in July 2023.  

About Metallicus :

Metallicus is a pioneering FinTech bridging traditional finance with advanced solutions, like leveraging blockchain technology, through its Digital Banking Network. This network includes interoperable Layer 0, Layer 1, and Layer 2 blockchains, enabling instant transactions with on-chain identity (DID/KYC) for compliant digital asset interactions. Using some of the latest payments technologies available in the market today, Metallicus provides plug-and-play blockchain technology solutions for institutions and consumers, including private subnets, white-labeled fiat on-ramps, digital biometric wallet solutions, decentralized trading platforms, and more. For more information, visit www.metallicus.com. 

Source: Metallicus