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Big Banks, NY Fed Start to Test Digital Tokens for 'Wholesale' Transactions

Citigroup, HSBC, BNY Mellon, Wells Fargo and Mastercard, are among the financial giants taking part.

By Jamie Crawley
Updated May 9, 2023, 4:02 a.m. Published Nov 15, 2022, 4:09 p.m.
The Federal Reserve Bank of New York is leading a program to test the use of digital tokens to settle transactions among financial institutions. (Shutterstock)
The Federal Reserve Bank of New York is leading a program to test the use of digital tokens to settle transactions among financial institutions. (Shutterstock)