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🎉 The Fed has proposed creating special payment accounts for crypto companies, which industry leaders have been pushing for years!
This tool will provide crypto projects with direct access to the Fed's payment rails (Fedwire and FedNow) for clearing and settlements.
However, it will operate without interest on balances, no lending from the Fed, and no overdrafts with a balance limit of up to 1 billion dollars.
Why it matters: Direct access to the Fed's rails could reduce the dependence of crypto and fintech companies on intermediary banks, streamline dollar settlements, and make them faster and cheaper. For the industry, this is another step towards legalization and integration into the US financial infrastructure.
Previously: Trump's decree
#btc #ETH #TrampMedia $BTC $ETH
This tool will provide crypto projects with direct access to the Fed's payment rails (Fedwire and FedNow) for clearing and settlements.
However, it will operate without interest on balances, no lending from the Fed, and no overdrafts with a balance limit of up to 1 billion dollars.
Why it matters: Direct access to the Fed's rails could reduce the dependence of crypto and fintech companies on intermediary banks, streamline dollar settlements, and make them faster and cheaper. For the industry, this is another step towards legalization and integration into the US financial infrastructure.
Previously: Trump's decree
#btc #ETH #TrampMedia $BTC $ETH
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