according to crypto journalist Eleanor Terrett, Federal Reserve Board Governor Chris Waller announced at the Federal Reserve Bank Payment Innovation Conference that the central bank proposed to introduce a new type of restricted master account (referred to as a "lite master account"), allowing all legal compliance institutions to directly access the Federal Reserve payment system without relying on partner banks. This lite master account does not provide all the services of a full master account, such as the ability to borrow from the Federal Reserve, but each legal compliance entity can apply, and the eligibility rules will not change.

This move will enable the Federal Reserve to give the green light to innovative banks, fintech companies, stablecoin issuers, and other payment companies. Eleanor Terrett stated that this move is significant for companies like Custodia Bank and Kraken, which have been trying for years to obtain a Federal Reserve master account, with Custodia even suing the Federal Reserve. In addition, companies like Ripple and Anchorage, which applied this year, may also accelerate their eligibility as a result.