Fed seeks input on account type attractive to crypto firms

The Federal Reserve is considering a new 'payment account' aimed at providing fintech and crypto firms easier access to its systems. This proposal is drawing significant attention as it seeks to address the current challenges that crypto entities face in accessing the financial system. Improved payment systems can lead to reduced transaction costs, benefiting these firms and potentially increasing their credibility among market participants by aligning them more closely with central banking support. Observers will be keen to monitor the developments from here.