Fed Considers “Skinny Master Accounts” to Serve Crypto and Fintech Firms

The U.S. Federal Reserve has unveiled a proposed “skinny master account” structure that may grant select crypto and fintech firms access to its payments network for transaction settlement and clearing.

Alongside the proposal, the Federal Reserve directed regional Reserve Banks to pause consideration of new Tier 3 master account applications until December 2026. The pause aims to ensure consistent standards are in place before the final framework is implemented, as most crypto-related firms fall within the Tier 3 category.

Source: Eleanor Terrett