WASHINGTON, D.C. – The Financial Technology Association (FTA) today submitted a letter in response to the Federal Reserve Board’s request for comment on payments innovation and the potential of a U.S. central bank digital currency (CBDC) or “digital dollar.”
As the Federal Reserve Board considers CBDC, the FTA urged it to simultaneously advance other innovations in the payments space, such as implementing FedNow and providing broader access to Federal Reserve services. Policymakers should also leverage financial technology companies’ capabilities, reach, and technological expertise to best achieve broader public policy objectives.