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Payments 101: Checks, ACH, FedWire, Stablecoins, CBDCs (and more)

Fintech Beat

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The ACH and Fed Wire System

The ACH and Fed Wire systems are ways in which the money moves within the economy. The payments, these normal retail payments are made through what is known as the automated clearinghouse system. This is a bank-based payment scheme that moved approximately $1,000 trillion worth of value last year. Average Fed wire payments are around $5 trillion an average.

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