The crypto market rallied sharply on Tuesday after Federal Reserve Governor Chris Waller proposed a new “payment account” framework aimed at giving fintech and blockchain companies easier access to the U.S. central bank’s payment infrastructure.
Speaking at the Federal Reserve Payments Conference, Waller said he had instructed staff to explore the creation of specialized accounts that would function similarly to Fed master accounts, but with narrower permissions and reduced risk exposure.
The proposal could significantly simplify how crypto payment firms, such as Ripple and stablecoin issuers, connect to the Fed’s systems, removing the need for full banking licenses and reliance on third-party intermediaries.
Easier Access for Crypto Payment Companies
Under Waller’s concept, these new accounts would be tailored for innovation, not full-scale banking privileges. They would grant essential transaction and settlement access while streamlining approval processes that currently slow down non-bank entities.
“Payments innovation moves fast, and the Federal Reserve needs to keep up,” Waller said, stressing that the Fed must evolve to accommodate rapid changes in digital finance and blockchain-based settlement.
Analysts see the plan as a potential policy bridge between the traditional banking sector and the growing crypto economy, one that could accelerate adoption of blockchain payment systems across the U.S.
Crypto Market Reacts with Broad Gains
Following Waller’s comments, the broader crypto market turned decisively green.
According to CoinMarketCap data, Bitcoin (BTC) climbed 2.71% in the past hour to trade at $112,740, while Ethereum (ETH) jumped 3.16% to $4,046.
Solana (SOL) outperformed with a 3.83% gain to $194.18, joined by Cardano (ADA) at $0.6788 (+3.75%) and XRP, which rose 2.95% to $2.50. BNB traded 2.13% higher at $1,101.61, continuing its steady recovery trend.
Among smaller-cap tokens, Dogecoin (DOGE) advanced 3.73%, Chainlink (LINK) gained 3.42%, and Hyperliquid (HYPE) led the pack with an hourly surge of 4.99%.
Renewed Optimism for Crypto and Fintech Integration
The synchronized market rally highlights how regulatory clarity and institutional signals can reignite optimism across digital assets.
If implemented, the Fed’s payment account initiative could mark a turning point in how blockchain firms operate within the U.S. financial system, bridging innovation and oversight while reducing dependency on commercial banks.
With Bitcoin above $112,000 and Ethereum holding above $4,000, traders see growing signs that October could close on a bullish note, setting the stage for a strong start to November.