Q: Why are people talking about Ripple and Federal Reserve access right now?
The discussion started after crypto exchange Kraken gained a Federal Reserve master account through its Wyoming banking arm. This makes Kraken the first crypto company with direct access to the Federal Reserve core payment systems. The approval has sparked speculation that other crypto firms, including Ripple, could eventually receive similar access.

Q: Has Ripple applied for something similar?
Yes. In July 2025, Ripple reportedly applied for a national trust bank charter and a Federal Reserve master account. The company later received conditional approval from the Office of the Comptroller of the Currency for the charter. However, Ripple has not yet received final approval, and gaining access to the Fed’s payment infrastructure could still take years.