Fed To Join Payments ‘Revolution,’ Bring Crypto In ‘From the Fringes,’ Governor Waller Says
The US Federal Reserve is preparing to join the “revolution in payments” and bring crypto “from the fringes” of finance into the mainstream. That’s according to Governor Christopher Waller, who said at the Fed’s Payments Innovation Conference in Washington on Oct. 21 that the central bank will grant stablecoin issuers and fintech firms access to its payment system through proposed “skinny” master accounts. The move underscores a dramatic shift in the Fed’s approach to digital assets and decentralized finance. Waller said technologies like stablecoins, tokenized assets, and AI are “no longer on the fringes but increasingly woven into the fabric of the payment and financial systems.” “Payments innovation moves fast, and the Federal Reserve needs to keep up,” he said. “We intend to be an active part of that revolution.” Fed Intends To Be Part Of The “Technology-Driven” Revolution In Pa...