U.S. Lawmakers Explore Blockchain to Modernize $93 Trillion Payment System

A recent U.S. House Financial Services Committee hearing put the spotlight on modernising payment systems. Lawmakers and industry leaders discussed ways to improve the Automated Clearing House (ACH) network, which handled around $93 trillion in transactions last year. Ripple's blockchain technology was highlighted as a potential solution for faster and cheaper payments. The hearing saw Representative Sam Liccardo question Randall Guynn, the Federal Reserve's Director of Supervision and Regulation, about the slow pace of payment system upgrades. Liccardo pointed to industry proposals, including pre-funded ACH transactions—a concept backed by Ripple and financial software firm Intuit.

Ripple's February 2026 proposal to the Federal Reserve suggested introducing pre-funded ACH accounts for stablecoin issuers, such as its own RLUSD. While no official response from the Fed has been recorded, the idea was part of broader discussions on integrating stablecoins into traditional payment networks. Visa and other companies also shared suggestions for enhancing the ACH system.

The ACH network processed over $61 trillion in credit payments alone in 2025. With proposals like pre-funded ACH and stablecoin integration gaining traction, the hearing signalled a shift toward exploring blockchain-based solutions in mainstream finance. The discussion reflects a growing openness to blockchain technology within U.S. financial regulation. Ripple's inclusion in the hearing underscores its role in pushing for payment innovation. For now, however, the Federal Reserve has not publicly addressed the company's specific proposals for pre-funded ACH accounts.