# U.S. Federal Reserve proposes new payment account category for fintech and crypto firms, offering limited access to central bank payment infrastructure.

*fintech · news · 2026-05-21 · The Economic Times*

## Key points

- The Federal Reserve has proposed a limited payment account category for fintech and crypto firms.
- These proposed accounts exclude access to intraday credit, the discount window, and interest on reserves.
- Fed Governor Michael Barr dissented, citing inadequate safeguards against illicit financial activity.
- Regional Fed banks have been asked to pause decisions on pending applications during the review process.
- Final approval for these accounts will remain with individual regional Federal Reserve banks.

**Companies:** Kraken, Ripple, Anchorage Digital, Wise
**Countries:** United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/us-stocks/news/us-stock-market-fed-weighs-new-payment-account-framework-amid-crypto-push/articleshow/131240337.cms)

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