Three cryptocurrency-native companies have applied for a Federal Reserve master account
2025-06-30 11:09:16
On June 30, three cryptocurrency-native companies, including WisdomTree Digital Trust, Standard Custody & Trust Company, and Commercia Financial, have applied for a Federal Reserve master account, indicating renewed optimism in the market about the Federal Reserve's possible relaxation of its stance on allowing digital asset companies to use its payment channels. Notably, WisdomTree and Standard Custody are trust companies chartered by the State of New York and regulated by the New York State Department of Financial Services (NYDFS). Under the current federal definition, it is unclear whether they are eligible to open a master account, as opening a master account requires a deposit authorization or insurance from the Federal Deposit Insurance Corporation (FDIC).
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