FedNow has surpassed 1,800 participating financial institutions ahead of its third anniversary on July 20. Seven of the ten largest US banks now participate.
In 2025, FedNow settled $853.4 billion across 8.4 million transactions. First-quarter 2026 activity reached 2.7 million transactions valued at $271.3 billion.
The Federal Reserve raised the per-transaction network limit from $1 million to $10 million effective November 12, 2025. Emerging applications now include instant payroll disbursement, auto loan funding, and insurance payouts.