Fed Proposes ‘Skinny’ Accounts for Fintechs & Stablecoins

The Federal Reserve is proposing a new system, known as a ‘skinny master account,’ that could grant more financial firms direct access to the central bank’s payment systems. This move aims to reduce reliance on traditional banking partners by giving eligible institutions quicker access to Fed services. Ripple, Kraken, and Custodia Bank are among those expected to benefit from this change.