The Rise of Web3 Business Banking: How ‘Skinny’ Master Accounts Could Transform Crypto Firms
What Are and Why Do They Matter?
In the fast-evolving world of cryptocurrency and blockchain, access to reliable banking services has long been a major pain point for crypto firms. Traditional banks have often shied away from partnering with these innovative companies due to regulatory fears and compliance headaches. Enter the Federal Reserve’s bold proposal for —a game-changing solution that could finally bridge the gap between Web3 businesses and the traditional financial system.
Unlike full master accounts, which grant banks unrestricted access to the Fed’s payment systems like Fedwire and ACH, these skinny versions offer limited privileges. Think capped overnight balances, restrictions on certain transaction types, and…
