The Federal Reserve's FedNow payment system has added Dropp, the micropayment platform built on Hedera (HBAR) Network, as a service provider, according to its website fednow.org.
Dropp aims to collaborate with banks using FedNow Services.This partnership offers merchants an innovative option for year-round, end-of-day real-time and instant payments services. Additionally, Dropp's integration with FedNow will bring swift retail payments for everyday buys.
Presently, Dropp facilitates micropayments for minor transactions using HBAR, USD, and USDC. This benefits merchants by enhancing their finances and business growth, and consumers gain easy access to valuable products and services. Furthermore, Dropp supports NFT storage, transactions, transfers, and offers a view of NFT transaction history, details, and associated fees.
Hedera's HBAR token surged by 16% in the past 24 hours, riding on the coattails of this favorable development.
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