BUSINESS WIRE US: Fluency featured in the US-Federal Reserve’s FedNow Service Provider Showcase
BUSINESS WIRE, Fluency featured in the Federal Reserve’s FedNowSM Service Provider Showcase
Apr 25, 2022 – Fluency is proud to be featured in the Federal Reserve’s FedNow Service Provider Showcase, an online resource designed to connect financial institutions looking to adopt and innovate upon the FedNow Service with service providers offering instant payment solutions.
“We’re thrilled to be part of the FedNow Service Provider Showcase and look forward to helping other organizations implement instant payments,” said Inga Mullins, CEO Fluency “With our solutions, financial institutions, businesses and consumers will be able to access the speed, convenience and other benefits the FedNow Service will provide when it launches in 2023.”
Fluency plans to offer the following instant payment services to organizations that are adopting the FedNow Service:
Fluency’s Aureum proprietary technology is Blockchain 4.0 for Enterprises, Banks & FinTechs.
Aureum offers the unique ability to make and receive instant, near-zero cost payments, regardless of currency, channel, or form factor.
Innovation no other network can provide: multi-digital assets using one platform, dual offline payments, privacy, programmability, interoperability & upgradability.
Aureum provides: • Constant, instant and near-zero cost transactions, • Dual offline payments, • Programmability, • Privacy (transactional details being available to be decoded only to parties involved), • Upgradability, • Interoperability with private stablecoin networks, DeFi (including cryptocurrency-bridges), automated banking products, NFTs, Metaverse interfaces, supply chains and IoT solutions, • Scalability – greater than RTGS systems and DeFi public networks. Highly scalable and uses eco-friendly, light-weight slot-based consensus system
“We appreciate the commitment of Fluencyto enabling FedNow adoption and participating in the showcase,” said Nick Stanescu, Federal Reserve Bank senior vice president and FedNow business executive. “The time is now for organizations to identify and connect with partners they’ll need to build the end-to-end solutions the market is demanding.”
Fluency is a technology company dedicated to the creation of the world’s first fully permissioned and configurable multi-CBDC platform. Fluency has developed a new infrastructure that can assist central banks in building their own CBDC networks while also providing necessary tools for financial institutions and enterprises to build user-friendly services on top of it.
Fluency Aureum, being the flagship product, is designed to provide an on-ramp for building CBDC platforms and bridging them together to existing payment networks including both traditional banking and alternative finance.
For banks and issuers, they’ll be able to plug into Aureum, integrate their existing infrastructure and be enabled to do things like issue CBDC-linked payment services and take use of cross-chain interoperability protocol for universal payment access allowing use of digital national currencies, stablecoins, NFTs, Metaverse and more.
About the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve’s FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org.
“FedNow” is a service mark of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org.
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