Federal Reserve and Senate Move Closer to Integrating Cryptocurrency with Payment Networks

The US Federal Reserve has taken a significant step towards integrating cryptocurrency firms into its payment system by publishing an updated proposal for a 'skinny' master account.

The proposal, which updates the original plan published in December 2025, outlines how the central bank intends to grant fintech and crypto firms access to its payment rails without requiring them to be full-fledged banks.

As part of this effort, the Fed has directed its member banks to evaluate whether they can independently grant payment accounts to entities. However, Congress may need to pass legislation further detailing what types of entities are eligible for an account.