# President Donald Trump signed an executive order directing the Fed to evaluate its policies on granting payment-account access to non-bank financial companies.

*fintech · news · 2026-05-20 · CryptoSlate*

## Key points

- Trump's executive order directs the Fed to review granting payment-account access to crypto and fintech firms.
- Kraken's limited-purpose Fed account approval in March sets a precedent for restricted access by digital asset companies.
- The order asks if the 12 regional Federal Reserve banks can independently approve or deny master account applications.
- Restricted accounts could allow access to payment rails without granting privileges like reserve interest or Fed credit.
- Ripple, Coinbase, Circle, and Anchorage are positioned to benefit if the Fed framework is broadened.

**Companies:** Coinbase, Ripple, Kraken, Circle, Wise, Paxos, BitGo, Fidelity Digital Assets, Anchorage Digital
**Countries:** United States

[Read the full story on CryptoSlate](https://cryptoslate.com/trump-crypto-fed-payment-rails/)

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