Trump's Fintech Order Triggers Review of Fed Payment System Access; Ripple's 2025 Master Account Application in Focus

President Trump's recent fintech executive order instructs the Federal Reserve to reassess rules governing access to core payment systems such as Fedwire and FedNow, historically limited to federally insured banks. The order does not grant new access, but requires regulators to review whether these frameworks remain appropriate in an era of digital assets and real-time payments. Ripple applied for a Federal Reserve Master Account in 2025, which if approved would grant the company direct access to central bank payment rails. The application remains under review with no approval timeline disclosed.
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