MoonPay integrates Federal Reserve's FedNow system to enable 24/7 instant USD settlements between traditional finance and DeFi.
Tech & Launches ·
MoonPay has integrated the Federal Reserve's FedNow system into its Virtual Accounts product, according to the company. The integration enables around-the-clock instant USD settlements connecting traditional finance and decentralized finance, removing the need for users to hold crypto across the settlement layer.
FedNow is a real-time gross settlement service operated by the central bank. MoonPay's Virtual Accounts already supported stablecoin-based fiat settlement for use cases like retail checkout and crypto-backed card funding. The FedNow integration extends that capability to direct USD rails, allowing participants to move funds instantly at any hour without waiting for banking hours or traditional ACH clearing windows.
The announcement does not specify which Virtual Accounts features or use cases will route through FedNow first, nor does it clarify whether the service is live to all users or rolling out in phases. The technical scope of the integration—whether FedNow settlement is available for all onramp flows, institutional custody clients, or specific partner integrations—remains unclear.