Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, the US Federal Reserve is exploring a new “payment account” model to let fintechs connect directly to the banking system. Coinbase, meanwhile, has bought crowdfunding platform Echo for $375 million and spent another $25 million reviving the 2022 UpOnly crypto podcast.
The US Federal Reserve is considering the introduction of a new type of payment account that would make it easier for smaller companies to participate in the central bank’s payment system, signaling the end of the crypto industry’s banking access challenges.
The newly floated “payment accounts” would seek to grant full access to fintech companies seeking to utilize the Fed’s payment services, which are currently reserved for large banks and financial institutions through the Fed’s “master accounts.”
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