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Fintech Fed Weighs Special Payment Accounts for Fintechs, Crypto Firms
The U.S. Federal Reserve is studying a proposal to create a new kind of “payment account” that would allow smaller financial and fintech firms to directly connect to its payment infrastructure, potentially easing long-standing access issues faced by crypto and technology companies. Fed Governor Christopher J. Waller unveiled the idea during the Payments Innovation Conference on Tuesday, saying the accounts would provide limited, controlled access to the Fed’s payment rails for companies that currently rely on partner banks. “I believe we can and should do more to support those actively transforming the ... (full story)
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