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Ripple says 'skinny' Fed master account is attractive despite limitations

From finance.yahoo.com

Crypto giant Ripple supports the idea of a "skinny" Federal Reserve payments account for non-banks, which could still ​be a game changer while addressing banks' concerns over financial stability and competition risks, a top company executive said. "I think it's an attractive idea, and I think it should give traditional banks some comfort," Stu Alderoty, the chief legal officer of Ripple, said in an interview with Reuters on Tuesday. Ripple in July said it had applied for a Fed "master account" which would allow it to plug directly into the U.S. central bank's payments infrastructure, ⁠rather than relying ... (full story)

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