Fed Proposes New Payment Accounts for Fintech Firms
The Federal Reserve has launched a public consultation for limited payment accounts, offering non-bank financial institutions and fintechs direct access to the central bank's payment infrastructure. This initiative, championed by Fed Governor Christopher Waller, aims to balance financial innovation with systemic stability.
These accounts will not accrue interest, will have restricted access to credit facilities, and will feature balance limits. For the crypto and blockchain sectors, this could mean reduced counterparty risks and operational costs for firms currently relying on intermediary banks. While distinct from CBDCs, these accounts offer a regulated pathway for private innovators to interface with the Fed's systems. The public comment period extends until December 2025.


Cryptovka
Fed Proposes New Payment Accounts to Bridge Gap for Fintech Firms
The Federal Reserve has officially initiated a public consultation process regarding the creation of a new category of limited payment accounts....








