Fedwire
29
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17
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16
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Search complete. 29 mentions across 17 episodes found for "Fedwire".
Sep 22, 2026
Herman PoppleberryHOST
If a Brazilian bank pays a Singaporean bank in dollars, that payment routes through a U.S. correspondent bank, usually through CHIPS, the clearinghouse interbank payment system operated by the clearinghouse in New York.
Herman PoppleberryHOST
And final settlement runs through Fedwire, the Federal Reserve's own
KornHOST
system.
KornHOST
So even a Brazil to Singapore payment, with no American anywhere in the room, touches American infrastructure.
Ryan KirkleyGUEST
And so typically speaking, when we're talking money, it's monetary settlement.
Ryan KirkleyGUEST
There's a 48 to 72 hour lag on everything but Fedwire and Euroclear, which have a bit quicker systems and kind of interbank operability between them.
Ryan KirkleyGUEST
Everything else that we talk about in the world today, largely speaking, is going to take some time.
Ryan KirkleyGUEST
Now, there's some RTS and some more digital money that's moving forward in that.
29 MINS LATER
Ryan KirkleyGUEST
And I think that's really where we'll see.
Ryan KirkleyGUEST
We'll see a little bit of that conversation of which blockchain to use, but reality is it's probably going to turn into how we think of money today.
Ryan KirkleyGUEST
The average citizen couldn't tell you what Fedwire is.
Ryan KirkleyGUEST
The average citizen could not tell you how Zelle moves money.
speaker_0GUEST
So I started looking at some of the actual movements of money.
speaker_0GUEST
One of them was like Fedwire, which is used a lot by the government, by the banks.
speaker_0GUEST
Mm-hmm.
speaker_0GUEST
And one of the things that came back through AI was in 2024, Fedwire in one year moved over $1 quadrillion.
Jason Todd WadeHOST
Because people don't realize, you do, what I'm about to say.
Jason Todd WadeHOST
They always talk about the Fed rate, the Fed rate, the Fed rate.
EilidhGUEST
It's essentially a standardized language for payment messages that carries richer, more structured information than older formats.
EilidhGUEST
The Federal Reserve has been implementing it across services like Fedwire.
EilidhGUEST
The brief notes it can improve matching when organizations govern the data consistently.
EilidhGUEST
The key word there is consistently.
James RickardsGUEST
to China or elsewhere, get paid in yuan.
James RickardsGUEST
So rubles, yuan, rupees in India, Brazilian, and some of the other currencies, they can now pay each other in those currencies using their own payment channels that are secure and encrypted without having to go through the SWIFT system or Fedwire or ACH or any other dollar payment system.
James RickardsGUEST
Well, that's a big deal.
James RickardsGUEST
You insulate yourself from freezes and seizures and the kind of economic sanctions I just talked about.
Rob McClellanGUEST
so what we would do for the the uk and european brands is or we can do it for international but it seems to come up more in the uk and europe set them up a local us bank account under their name and under their company without having a usnc or a us national working there or whatever the difficulty whatever the reason is in the state that's stopping them they can then receive funds via usd from their us clients by ach or fedwire direct from an online banking app walking into the bank and making the payment And their US client has no issue doing that.
Rob McClellanGUEST
And again, it can be done near enough instantaneously via online platforms or in the bank.
Rob McClellanGUEST
Whereas if they had a local dollar account within the UK, some US banks won't send those funds out because they can't be sent across seas via ACH or Fedwire.
Brian GreerHOST
Yeah, that makes a lot of sense, Rob.
Brian GreerHOST
And as we, you know, kind of wrap up here and wind down are there any other pieces or aspects of the business that we didn't touch upon that you think would be you know relevant to either a u.s business expanding internationally or As you said, it's a little bit more common for some of the EU based businesses to at least be aware of these concepts.
Ron SteslowHOST
It's all peer-to-peer, and it moves through a computer network.
Ron SteslowHOST
So it's not settling on Fedwire at the end of the day.
Ron SteslowHOST
It's not going through a bank like J.P. Morgan.
Ron SteslowHOST
I can send it directly to you, Hagar.
Gary BarnesGUEST
So I started looking at some of the actual movements of money.
Gary BarnesGUEST
One of them was like Fedwire, which is used a lot by the government, by the banks.
Gary BarnesGUEST
Mm-hmm.
Gary BarnesGUEST
And one of the things that came back through AI was in 2024, Fedwire in one year moved over $1 quadrillion.
Jason Todd WadeHOST
Because people don't realize, you do, what I'm about to say.
Jason Todd WadeHOST
They always talk about the Fed rate, the Fed rate, the Fed rate.
Miles PaschiniGUEST
If you think about it, when now, let's fast forward it to sometime in the future, when a large portion of bank accounts come with a wallet address, you can essentially send payments to your counterparty's bank account 24 by 7 in near instant.
Miles PaschiniGUEST
And that is going to happen on chain, which is quite different than happening from bank to bank using ACH or or Fedwire or Swift, which are centralized systems.
Miles PaschiniGUEST
So the uniform aspect will come is that if I have a wallet that's on an EMV wallet, let's say, and no matter what bank you're at, if you have a bank account that has an EMV wallet attached, I'll be able to send you an instant payment.
Miles PaschiniGUEST
Doesn't matter whether you could be located on the other side of the world.
Miles PaschiniGUEST
And, you know, in a few seconds later, you can have credit in your account.
Miles PaschiniGUEST
So I think it's a it's a it's a you know where where where's your view of reality from i think business account holders in that have business accounts in uh you know digitally progressive banks uh are going to have that reality pretty soon um i think retail it's going to take a long time like yeah i don't want to forecast but it's years and years before retail gets there i think um i do think that you know pretty much any neobank created going forward, and pretty much all of the major existing neobanks are gonna support this at retail.
Miles PaschiniGUEST
So you'll have the neobank faction, which will interoperate with the existing traditional finance, so ACH, Fedwire, SWIFT, and blockchain, much like FB Bank.
Miles PaschiniGUEST
And then you'll have your traditional banks where you'll get your personal bank account 10 years from now, and it will still not change.
Andrew TorrezHOST
Yeah.
Andrew TorrezHOST
And as part of Project Whipple Shield, DHS sent secret administrative subpoenas to Fedwire, that is the Federal Reserve Bank's network that allows banks to process wires and other electronic transfers of funds, ETFs, right? So They asked Fedwire to turn over three years worth of records for, you will not believe this, the labor unions, the Service Employees International Union, the Communication Workers of America, the International Federation of Professional Technical Engineers.
Andrew TorrezHOST
So those subpoenas asked for the union's debits and credits, including annuity payments, strike payments, strike supplies, investments, union member dues, retiree dues, medical expenses, and pension fund expenses.
Andrew TorrezHOST
And the DHS also filed these administrative subpoenas seeking records from progressive social groups, right, such as Sunrise Movement, Voices for Racial Justice.
7 more episodes mention Fedwire.
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