Federal Reserve Governor Waller: Will More Actively Study and Embrace Payment Innovation

ChainCatcher reported that at a Federal Reserve conference on crypto payment innovation, Federal Reserve Governor Christopher Waller stated that the Fed will become more proactive in researching and embracing payment innovation. Waller emphasized that the Fed intends to actively participate in this revolution and said the institution must strive to understand how best to integrate these innovations with the traditional financial ecosystem. Waller also mentioned that he has asked central bank staff to explore the concept of "payment accounts." He noted that a possible prototype is a "streamlined" master account, which would provide access to the Fed's payment systems. The Federal Reserve hopes to better understand how to connect traditional finance with decentralized finance, innovative stablecoin application scenarios, and the tokenization of financial products and services.