Federal Reserve to Host Payments Innovation Conference on Oct. 21

The U.S. Federal Reserve will convene a payments innovation conference on October 21 in Washington, D.C., gathering banking, business, and technology leaders to explore advancements in payment systems. Key discussion topics include the convergence of traditional and decentralized finance, stablecoin applications, AI integration in payments, and the tokenization of financial assets.

Governor Christopher J. Waller emphasized the historical role of innovation in meeting evolving payment demands. "Innovation has been a constant in payments to meet the changing needs of consumers and businesses," he stated, highlighting the need to balance technological opportunities with systemic risks.

The Fed's modernization efforts continue with FedNow, its real-time payment service launched in July 2023, now serving approximately 1,400 financial institutions. The conference will be livestreamed, with additional details forthcoming.