Federal Reserve Proposes Payment Account That Could Open Fed Rails to Crypto Firms
Key takeaways
- The Board advanced the plan, building on a December 2025 request for information.
- The proposed payment account is a stripped-down version of the master account that traditional banks use to settle directly with the Fed.
- Automated controls would block any transaction that risks creating an overdraft.
Federal Reserve Proposes Payment Account That Could Open Fed Rails to Crypto Firms Photo by Be In Crypto Phil Haunhorst Thu, May 21, 2026 at 9:43 PM GMT+7 3 min read The Federal Reserve has opened a 60-day public comment window on a proposal to create a specialized "payment account" that would give legally eligible non-bank financial institutions, including crypto-focused firms, direct access to its clearing and settlement infrastructure.
The Board advanced the plan, building on a December 2025 request for information. It arrives one day after President Donald Trump ordered regulators to review crypto firms access to federal payment rails.
The proposed payment account is a stripped-down version of the master account that traditional banks use to settle directly with the Fed. Holders would not receive intraday credit, discount window access, or interest on balances kept at a Reserve Bank.