Fed Confronts Crypto and AI Disruption With Push for Modern Payment Systems

The Federal Reserve is accelerating efforts to modernize its payment infrastructure as stablecoins and tokenization reshape financial markets. Governor Christopher Waller revealed exploratory work on a 'skinny' master account system that could grant fintech firms access to central bank settlement rails. 'The payment landscape represents the buy side of the digital asset economy,' observed chainlink CEO Sergey Nazarov during the Fed's first-ever crypto-focused conference.

A high-profile panel including Circle's Heath Tarbert and Multicoin Capital's Kyle Samani delivered a unified message: regulatory clarity and technical upgrades are urgently needed. The discussions highlighted growing institutional recognition that AI-driven payments and blockchain-based systems require interoperability with legacy banking networks. Market participants emphasized that risk-appropriate frameworks could determine whether the U.S. maintains its financial leadership position.