WisdomTree Digital Trust and three other crypto-native companies have applied for a master account at the Federal Reserve

PANews reported on June 30 that according to Crypto In America, three native cryptocurrency companies have applied for the Federal Reserve's master account. WisdomTree Digital Trust, Standard Custody & Trust and Commercium Financial, a special purpose depository institution in Wyoming, all appear in the latest list of the Federal Reserve's master account database. Among them, WisdomTree and Standard Custody, as New York State chartered trust companies, are not clear whether they are eligible to apply according to the current federal definition, because applying for a master account requires the right to accept deposits or FDIC insurance.

Industry observers believe that these companies may be planning ahead, expecting Trump to issue an executive order instructing the Federal Reserve to open the master account, which the government has been considering for months. Commercium is applying again, having withdrawn its 2022 application. In addition, several cryptocurrency companies have applied for national banking licenses to operate across states, and are looking forward to the approval of the new director. Anchorage also said it is "deeply considering" the application.