US Fintech Executive Order Sets Stage for Crypto Banking Shake-Up

The US government has issued a new fintech executive order that could have far-reaching implications for the crypto market.

The order calls on the Federal Reserve to review whether digital asset firms should be granted direct access to US payment systems, including Federal Reserve master accounts.

This development follows earlier reforms highlighted by regulators, which have allowed some companies like Kraken to secure limited access through specialized charter structures.

Ripple's XRP token could benefit from the new order if it gains approval for direct access to the Federal Reserve's payment systems.

This change could reduce Ripple's reliance on correspondent banking networks and eliminate other settlement layers linked to institutional transfers.