Federal Reserve Seeks Public Input on Expanding Master Account Access Following Trump's Executive Order

According to its official statement on Wednesday, the U.S. Federal Reserve has requested public comment on a proposal to establish new payment accounts that may allow certain crypto firms to access the Fed's clearing and settlement systems. The proposal, substantially similar to a December 2025 version, would enable account holders to connect directly to U.S. payment rails without relying on intermediary banks, though they would not receive intraday credit or access to the discount window.

The Fed's request follows President Trump's executive order on Tuesday, which directed the central bank to review regulations and explore extending master account access to fintech and crypto firms. The central bank said it has received an increasing number of requests from non-federally insured institutions seeking access to Fed payment services.