{"id":349738,"date":"2023-08-14T13:00:03","date_gmt":"2023-08-14T12:00:03","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=349738"},"modified":"2025-12-03T12:40:37","modified_gmt":"2025-12-03T12:40:37","slug":"hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions\/","title":{"rendered":"HBAR surges 15% as FedNow support Hedera-based Dropp for real-time transactions"},"content":{"rendered":"<p><span class=\"s4\"><span class=\"bumpedFont15\">The Federal Reserve FedNow payment system has enabled support for Dropp, a micropayment platform based on Hedera (<a href=\"https:\/\/cryptoslate.com\/coins\/hedera\/\">HBAR<\/a>) Network, according to available information on its <a href=\"https:\/\/explore.fednow.org\/explore-the-city?id=10&building=showcase-theater&sortBy=newest&postId=108&vendor=dropp-inc\">website<\/a>.<\/span><\/span><\/p>\n<h2><span class=\"s6\"><span class=\"bumpedFont15\">What is Dropp?<\/span><\/span><\/h2>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">Dropp is a payments platform based on Hedera that allows merchants to get paid in digital assets, including HBAR, USD Coin (<a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a>), and fiat USD. Merchants can earn and keep their income on the platform, while consumers only pay per use without having to share their information.<\/span><\/span><\/p>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">Due to being <a href=\"https:\/\/hedera.com\/users\/dropp\">powered by Hedera<\/a> distributed ledger technology, Dropp also supports NFT storage and transfers. Merchants can receive payments without paying high transaction fees, which would be unavoidable with credit card transactions.<\/span><\/span><\/p>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">The platform already utilizes Automated Clearing House Network (ACH) to fund customers' wallets and for end-of-day payments to merchants. Through the FedNow Service, Dropp now plans to partner with banks to provide merchants with real-time settlements and enable instant payments at the retail level.<\/span><\/span><\/p>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">The support will enable Dropp to &#8220;provide merchants an innovative option for year-round, end-of-day real-time settlement and instant payment services, providing access to funds directly from customers for large value transactions.&#8221;\u00a0 The FedNow website further stated that Dropp would open up a digital economy of micro-purchases.<\/span><\/span><\/p>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">The <a href=\"https:\/\/cryptoslate.com\/us-presidential-candidate-robert-kennedy-says-fednow-is-first-step-to-banning-bitcoin\/\">FedNow<\/a> is an instant payment infrastructure <a href=\"https:\/\/cryptoslate.com\/op-ed-us-banks-launch-24-7-instant-payments-does-fednow-reduce-risk-of-cbdcs\/\">launched<\/a> by the Federal Reserve in June. It allows financial institutions in the U.S. to process transactions 24\/7. <\/span><\/span><\/p>\n<h2><span class=\"s6\"><span class=\"bumpedFont15\">HBAR rally<\/span><\/span><\/h2>\n<p><span class=\"s4\"><span class=\"bumpedFont15\">News of the development has pushed the value of Hedera network's native HBAR token up by roughly 15% in the last 24 hours to $<span class=\"holepunch holepunch-coin_price_usd\">0.06392 as of press time, according to <em>CryptoSlate<\/em> data.<\/span><\/span><\/span><\/p>\n<p>The surge continues a largely positive month for the blockchain network. Last week, Hedera <a href=\"https:\/\/twitter.com\/BlockchainforEU\/status\/1690008209308737539\">joined<\/a> the non-profit organization Blockchain for Europe as part of its effort for a &#8220;<span class=\"r-18u37iz\">blockchain<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">-powered future.&#8221;<\/span><\/p>\n<p>Meanwhile, the network recently celebrated processing 17 billion transactions on its blockchain despite losing<a href=\"https:\/\/cryptoslate.com\/hedera-halts-wallet-app-access-due-to-likely-exploit\/\">\u00a0access<\/a> to most services in March after it experienced irregularities with its smart contracts.<\/p>\n<p><a href=\"http:\/\/metrics.arkhia.io\/\">Data<\/a> from Arkhia shows that its total transactions are currently at 17.4 billion, and it has 3.1 million accounts created as of press time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve FedNow payment system has enabled support for Dropp, a micropayment platform based on Hedera (HBAR) Network, according to available information on its website. What is Dropp? Dropp is a payments platform based on Hedera that allows merchants to get paid in digital assets, including HBAR, USD Coin (USDC), and fiat USD. Merchants [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":349753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76736],"tags":[78490,78780],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HBAR surges 15% as FedNow support Hedera-based Dropp for real-time transactions<\/title>\n<meta name=\"description\" content=\"Federal Reserve&#039;s FedNow has enabled support for Hedera-based Dropp on its network, according to available information.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HBAR surges 15% as FedNow support Hedera-based Dropp for real-time transactions\" \/>\n<meta property=\"og:description\" content=\"Federal Reserve&#039;s FedNow has enabled support for Hedera-based Dropp on its network, according to available information.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-14T12:00:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-03T12:40:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/fednow.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/hbar-surges-15-as-fednow-support-hedera-based-dropp-for-real-time-transactions\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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