- HBAR surges 15% on FedNow’s Dropp integration.
- Dropp enables low-cost digital payments via HBAR, USD, and USDC.
- Hedera’s unique blockchain sees milestones with FreshSupplyCo and Shinhan Bank’s stablecoin pilot.
HBAR surged by an impressive 15% following the integration of Hedera’s Dropp into FedNow, heralding a new era of efficient digital transactions.
This surge follows the integration of Dropp, a Hedera-based micropayments platform, into the US Federal Reserve’s instant payments platform, FedNow. This strategic partnership has not only boosted HBAR’s value but also solidified its position as a frontrunner in the cryptocurrency market.
According to FedNow’s press release, Dropp has introduced a groundbreaking pay-by-bank alternative for small-value digital purchases. This eliminates high credit card transaction fees and offers users added flexibility by supporting transactions in Hedera’s HBAR, the U.S. dollar, and Circle’s USDC.
Hedera’s distinctive blockchain architecture, utilizing hashgraph consensus, underpins its appeal. With a remarkable throughput of over 10,000 transactions per second and nearly instantaneous transaction finality, Hedera’s foundation facilitated the seamless integration of Dropp, amplifying the efficiency of HBAR transactions.
Recent milestones underscore Hedera Hashgraph’s significance in the blockchain arena. FreshSupplyCo (FSCO), a trailblazing agrifood supply chain platform, incorporated Hedera into its payment trigger API, transitioning from the now-defunct private Mastercard Provenance blockchain.
South Korea’s Shinhan Bank also harnessed Hedera’s capabilities in a successful stablecoin remittance proof-of-concept pilot, a testament to Hedera’s technological prowess and potential to reshape the financial sector.
As HBAR maintains its upward trajectory and Hedera’s network of partnerships and innovations continues to expand, the stage is set for a revolutionary shift in digital payments and decentralized technology.
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