The Rise of Web3 Business Banking: How ‘Skinny’ Master Accounts Could Transform Crypto Firms
The world of crypto banking is about to change, and not just because of the latest meme coin. The Federal Reserve’s proposal for “skinny” master accounts has sparked a lot of discussion in the crypto community. Senator Cynthia Lummis is backing this initiative, claiming that it could break the chokehold of Operation Chokepoint 2.0 and promote innovation. As crypto firms continue to face hurdles in traditional banking, could this be the lifeline they need?
What Exactly Are These “Skinny” Master Accounts?
So what do these “skinny” master accounts mean for crypto firms? Well, they offer limited access to the Fed’s payment system for eligible companies in the crypto and fintech space. Unlike traditional accounts, these will come with…
