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Fed Proposes Direct Accounts for Crypto and Fintech Firms in Major Payments Overhaul
Fed Proposes Direct Accounts for Crypto and Fintech Firms in Major Payments Overhaul
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BTCCSquare news:
Federal Reserve Governor Christopher Waller unveiled a groundbreaking proposal to grant non-bank entities—including fintech firms and stablecoin issuers—direct access to the Fed's payment rails. The "Skinny Master Account" framework, announced at a central bank-sponsored conference, marks a strategic pivot toward modernizing the US financial infrastructure amid rapid technological change.
The MOVE is widely interpreted as a tacit endorsement of crypto's role in payments, building on prior administrative support for digital asset innovation. TD Cowen's Jaret Seiberg highlighted the seismic implications for the sector, particularly for stablecoins and decentralized finance protocols seeking institutional legitimacy.
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