U.S. Federal Reserve Added Hedera-based Micropayments Platform Dropp as Service Provider

U.S. Federal Reserve’s instant payments platform FedNow added "Dropp," a Hedera-based micropayments platform, as a service provider.

Dropp is a pay-by-bank alternative to credit card payments which allows merchants to accept small-value purchases digitally without large transaction fees, according to FedNow’s press release. Dropp allows micropayments in Hedera’s HBAR, the U.S. dollar and Circle’s USDC.

Hedera Hashgraph describes itself as a uniquely structured blockchain compared to other chains due to its usage of hashgraph consensus. Hedera is the only public distributed ledger that uses this, according to the company, which notes that Hashgraph achieves 10,000+ transactions per second and low-latency finality in seconds.

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