WisdomTree and two other Cryptocurrency-native companies have applied for Federal Reserve master accounts.

According to Crypto In America, three cryptocurrency-native companies, including WisdomTree Digital Trust, Standard Custody & Trust Company, and Commercium Financial, have applied for Federal Reserve master accounts, suggesting a renewed market optimism that the Federal Reserve may be relaxing its stance on allowing digital asset companies to use its payment channels. Notably, WisdomTree and Standard Custody are New York State-chartered trust companies regulated by the New York Department of Financial Services (NYDFS). Under the current federal definition, it is unclear whether they are eligible to open master accounts, as doing so requires deposit authorization or Federal Deposit Insurance Corporation (FDIC) insurance. Some industry observers believe that these companies may be hoping that President Trump will issue an executive order directing the Federal Reserve to grant unrestricted master account access to fintech and digital asset companies. The Trump administration has reportedly been considering this for months. [ChainCatcher]