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Kansas City Fed President Jeff Schmid Argues FedNow and Real-Time Bank Rails Not Stablecoins Are Where the Future of US Payments Is Headed
The landscape of American finance is undergoing a fundamental shift as the Federal Reserve asserts its dominance in the burgeoning race for payment modernization. Jeff Schmid, President of the Federal Reserve Bank of Kansas City, has emerged as a leading voice in this transition, articulating a vision where traditional banking infrastructure, augmented by real-time settlement…
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