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Three crypto asset companies have officially applied for a Federal Reserve master account.
According to Gate News bot, as reported by cryptoinamerica, three crypto asset companies, WisdomTree Digital Trust, Standard Custody & Trust Company, and Commercium Financial, have submitted applications for main accounts to The Federal Reserve (FED). This move has sparked market expectations that the FED may relax its policies regarding digital asset companies' use of its payment channels.
It is worth mentioning that WisdomTree and Standard Custody, as chartered trust companies in New York State, are regulated by the NYDFS. However, it remains unclear whether they qualify to open master accounts under current federal regulations, as this typically requires deposit authorization or FDIC insurance. Industry insiders speculate that these companies may be anticipating an executive order from President Trump authorizing the Federal Reserve to open master account access to fintech and digital asset companies, as the Trump administration has reportedly been considering this for months.