Donald Trump has signed a sweeping executive order that could fundamentally change how cryptocurrency and fintech companies interact with the American banking system.
The order directs the Federal Reserve to conduct a comprehensive 120-day review into whether crypto and fintech firms should be granted direct access to the Fed’s payment infrastructure — the same financial rails currently used by traditional banks for clearing and settling transactions.
At the center of the discussion are so-called “master accounts,” specialized Federal Reserve accounts that allow institutions to connect directly to the US central banking network. Access to these accounts would enable crypto companies to move funds, settle payments, and access systems like Fedwire without relying on intermediary commercial banks.
The executive order is being viewed as one of the most significant pro-crypto banking developments in US history because it could remove a long-standing barrier faced by digital asset companies: dependence on traditional banking partners.
For years, many crypto firms have struggled to maintain banking relationships due to regulatory uncertainty, compliance concerns, and risk management policies from major financial institutions. Critics within the crypto industry often referred to these banking restrictions as a form of “debanking,” arguing that innovative financial technology firms were being unfairly excluded from core financial infrastructure.
Under the new order, multiple US regulators — including the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency — have also reportedly been instructed to review existing regulations that may restrict fintech partnerships and crypto innovation.
The move builds upon Trump’s increasingly crypto-friendly policy stance since returning to office. In January 2025, Trump signed Executive Order 14178 titled “Strengthening American Leadership in Digital Financial Technology,” which established a federal working group on digital assets and promoted blockchain innovation across the US economy.
The administration later expanded its crypto strategy through initiatives such as the proposed US Strategic Bitcoin Reserve, further signaling Washington’s shift toward integrating digital assets into mainstream financial policy.
Industry analysts say direct Federal Reserve access could dramatically improve operational efficiency for crypto exchanges, stablecoin issuers, custodians, and fintech payment platforms. Instead of routing transactions through partner banks, approved firms could potentially settle payments directly through the Fed’s systems, lowering costs and reducing counterparty risk.
Several crypto-related firms have already explored or pursued such access. Kraken reportedly secured limited Fed payment access earlier this year, while companies including Ripple Labs and Anchorage Digital have also been linked to efforts involving Federal Reserve master accounts.
Supporters argue the order could accelerate mainstream adoption of digital assets in the United States and strengthen America’s position in the global crypto economy. However, critics are expected to raise concerns over financial stability, regulatory oversight, cybersecurity, and systemic risks tied to integrating non-bank crypto firms directly into the nation’s central banking infrastructure.
The Federal Reserve is expected to submit its findings and recommendations within the next 120 days, making the second half of 2026 potentially pivotal for the future of crypto banking in the United States.
