According to CoinMeta, FedNow is preparing to support cross-border payments, but the Federal Reserve has not yet transformed its instant payment service into a global settlement network. The international portion will still rely on private sector intermediaries, such as corresponding banks. In the United States, financial institutions participating in FedNow can utilize this service for domestic settlements, with the aim of helping banks serve international active customers while maintaining connectivity with the existing financial system. This development provides banks with an instant payment channel that is not closed at night or on weekends. Stablecoins have offered such continuous availability for many years. The announcement in September was built upon regulatory foundations established earlier this year; in April, the Federal Reserve proposed amendments to Regulation J, allowing participants in FedNow to use intermediaries other than Federal Reserve banks. The proposal specifically mentioned cross-border payments as a potential use case, stating that participating U.S. institutions could collaborate with intermediaries to handle the international portion of transactions, while FedNow would handle the domestic portion. On September 23, the Federal Reserve stated that FedNow is advancing support for cross-border transactions and enhanced ISO messaging in 20022.