Ripple Seeks Limited Fed Access for Faster US Payments, Addressing Bank Concerns

Ripple, in its pursuit of faster and more efficient US payment solutions, is advocating for a limited access “skinny” Federal Reserve account. This proposal aims to grant fintech and crypto firms expedited access to the U.S. payments system without triggering the same risks associated with full banking privileges. Ripple’s Chief Legal Officer, Stu Alderoty, believes this concept could address concerns held by traditional banks while facilitating faster settlement for firms like Ripple’s RLUSD stablecoin.