Fed Proposes New “Payment Accounts” to Broaden Access for Fintechs and Crypto Firms

[tradelikepro]

The U.S. Federal Reserve is exploring a new class of “payment accounts” that could give smaller fintech and crypto firms direct access to the central bank’s payment rails, historically reserved for large banks with Fed master accounts.

Governor Christopher J. Waller unveiled the concept at the Payments Innovation Conference, saying the move aims to support companies “actively transforming the payment system.”

If implemented, the framework could end the crypto industry’s long-running banking access challenges, marking a major step toward financial inclusion within the U.S. payments ecosystem.

[kelson10]

The idea of specialized payment accounts shows regulators slowly adapting to digital finance.

[alex10]

Wider access to federal payment systems could fuel innovation and cross-border efficiency.