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HBAR Rallies on FedNow Addition of Hedera-Based Dropp

Hedera Hashgraph’s HBAR token has surged over 15% after the U.S. Federal Reserve’s instant payments platform FedNow added "Dropp," a Hedera-based micropayments platform, as a service provider. Dropp is a pay-by-bank alternative to credit card payments which allows merchants to accept small-value purchases digitally without large transaction fees, according to FedNow’s press release. Dropp allows micropayments in Hedera’s HBAR, the U.S. dollar and Circle’s USDC. Today’s action brings the move higher in HBAR to nearly 50% since mid-June and the token’s market cap to more than $2.1 billion. Hedera Hashgraph describes itself as a uniquely structured blockchain.

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