Ripple Anchorage Benefit from Fed Proposal

Fed’s New Proposal Could Benefit Crypto Firms with Direct Payment Access

• The Federal Reserve has introduced a proposal for limited-access master accounts for eligible financial institutions.
• This new framework could allow crypto-related firms like Ripple and Anchorage to access the Fed’s payment infrastructure directly.
• Federal Reserve Governor Chris Waller announced this initiative at the Payments Innovation Conference, highlighting its potential to bypass intermediary banking partners.
• Custodia Bank and Kraken, which have previously sought Fed master accounts, might benefit from this “master account lite” framework.
• The proposal may expedite pending applications from companies such as Ripple and Anchorage that applied earlier this year.

The Federal Reserve’s proposed limited-access master account framework could enable firms like Ripple and Anchorage to gain direct access to its payment systems, potentially streamlining their operations by eliminating reliance on intermediary banks.