Skinny Master Accounts and Stablecoins
Federal Reserve Governor Christopher Waller floated the idea of the central bank creating a “skinny master account” for crypto firms which would grant them access to the Fed’s payment rails while keeping them away from a full Fed master account.
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The narrative
Federal Reserve Governor Christopher Waller suggested this week that crypto companies could use a limited version of the Fed’s master account system, which would let these firms access U.S. payment rails while limiting their exposure to certain risks the Fed would want to avoid.
Why it matters
Firms like Custodia have already…
