The post Anchorage Digital Moves to Join Fed Payment System appeared on BitcoinEthereumNews.com. Anchorage Digital has filed for a Federal Reserve master account. The OCC recently cleared the firm after a 2022 compliance order. Ripple, Circle, and other crypto firms are also pursuing federal banking pathways. Anchorage Digital, the first federally chartered digital asset bank in the United States, has applied for a Master Account with the Federal Reserve. If approved, the license would give Anchorage direct access to the Fed’s core payment rails, wire transfers, ACH, and check clearing, without intermediaries. While the application was filed with regulators on August 28, according to the Bank Registration Blog on X, it is currently making the rounds in the crypto community. This licence is considered essential for banks that want to operate on equal footing with traditional financial institutions. Related: Paradigm Capital Moves 3,718 ETH to Anchorage Digital as ETH Rallies Notably, Anchorage’s application comes as the U.S. Treasury Department advances the National Innovation for U.S. Stablecoins Act, or GENIUS Act. The proposal signals an expanded regulatory framework for stablecoins and digital asset firms. Why It Matters Master accounts allow banks to hold balances at the Federal Reserve and transact without relying on intermediaries.  For Anchorage, approval would mean expanding beyond digital asset custody into bigger financial services, effectively bridging the gap between crypto institutions and the traditional banking system. Compliance History Notably, Anchorage received a national trust bank charter from the Office of the Comptroller of the Currency (OCC) in 2021.  While that designation made it a federally supervised bank, it did not provide the direct settlement capabilities that come with a Fed account. The path to this application has not been straightforward. In 2022, the OCC issued a consent order citing failures in Anchorage’s anti-money laundering controls. That order was lifted in August this year after regulators concluded that the bank had… The post Anchorage Digital Moves to Join Fed Payment System appeared on BitcoinEthereumNews.com. Anchorage Digital has filed for a Federal Reserve master account. The OCC recently cleared the firm after a 2022 compliance order. Ripple, Circle, and other crypto firms are also pursuing federal banking pathways. Anchorage Digital, the first federally chartered digital asset bank in the United States, has applied for a Master Account with the Federal Reserve. If approved, the license would give Anchorage direct access to the Fed’s core payment rails, wire transfers, ACH, and check clearing, without intermediaries. While the application was filed with regulators on August 28, according to the Bank Registration Blog on X, it is currently making the rounds in the crypto community. This licence is considered essential for banks that want to operate on equal footing with traditional financial institutions. Related: Paradigm Capital Moves 3,718 ETH to Anchorage Digital as ETH Rallies Notably, Anchorage’s application comes as the U.S. Treasury Department advances the National Innovation for U.S. Stablecoins Act, or GENIUS Act. The proposal signals an expanded regulatory framework for stablecoins and digital asset firms. Why It Matters Master accounts allow banks to hold balances at the Federal Reserve and transact without relying on intermediaries.  For Anchorage, approval would mean expanding beyond digital asset custody into bigger financial services, effectively bridging the gap between crypto institutions and the traditional banking system. Compliance History Notably, Anchorage received a national trust bank charter from the Office of the Comptroller of the Currency (OCC) in 2021.  While that designation made it a federally supervised bank, it did not provide the direct settlement capabilities that come with a Fed account. The path to this application has not been straightforward. In 2022, the OCC issued a consent order citing failures in Anchorage’s anti-money laundering controls. That order was lifted in August this year after regulators concluded that the bank had…