Cross-border payments can now use the US domestic network for the first time.

The US central bank is proposing to let companies use intermediaries to send money through its FedNow payment system. This means businesses can now connect international money transfers to the US system more easily.

This change could make it simpler for companies to build new ways to move money across borders. It allows international payments to use the US domestic network for the final leg of the journey. This might lower costs and speed up transactions for businesses operating globally.