23 The Federal Reserve will develop the FedNowSM Service as a platform for consumers and businesses to send and receive payments immediately and securely 24 hours a day, 7 days a week, 365 days a year. This initiative is intended to provide a neutral platform for new private-sector innovation in faster payment services.
In addition to FedNow, we are exploring enhancements to same-day  20  Many distributed ledgers in existence today rely on probabilistic settlement, meaning that the more times a transaction is confirmed on the ledger, the less likely it will be revoked, but a non-zero risk of settlement failure persists. 21 Based on staff estimates. 22 See, e.g., https://fedpaymentsimprovement.org/.