HBAR rises 16% following FedNow's support of Hedera's Dropp payment platform


The FedNow instant payments system operated by the US Federal Reserve has recently added Hedera's Dropp payment platform, which has caused Hedera's native HBAR coin to surge by 16%. 


As part of FedNow, the US Federal Reserve now offers Dropp, Hedera's (HBAR) instant payments platform.
Dropp currently allows for small-sized payments in HBAR, USD, and USDC. Dropp plans to collaborate with banks that use FedNow Services to offer merchants an innovative option for year-round, real-time, and instant payment services. This will provide the ability to directly access money from customers for high-value transactions and enable retail-level instant payments for everyday purchases. Additionally, the platform allows for NFT storage, transactions, transfers, and viewing of NFT transaction history and details and associated fees. Dropp is a cost-effective digital micropayment transaction platform built on high throughput, low latency distributed ledger technology for instant payments. It currently uses ACH to fund consumer wallets and make payments to merchants at the end of the day. Merchants can save money and grow their businesses while consumers get convenient access to life-enriching products and services. The positive news about Dropp caused the HBAR token to experience a significant spike in its value. Additionally, Lunar Crush reported a 200% increase in the index of Hedera's social interactions in the last week, indicating significant community attention.
Source Coinmarketcap                   


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