TechFlow, September 20 — Cryptocurrency journalist Eleanor Terrett posted that according to newly disclosed Federal Reserve database information, Anchorage Digital has applied for a Federal Reserve master account. Earlier this year in June, she had asked Nathan McCauley, co-founder and CEO of U.S. crypto bank Anchorage Digital, whether they had applied for a Federal Reserve master account, but he declined to comment at the time. A master account is essential for banks to settle transactions directly with the central bank and hold balances at the Federal Reserve; without such access, banks must rely on third-party intermediaries to process payments. If Anchorage Digital obtains a master account, it could become the first cryptocurrency bank capable of holding assets beyond digital currencies, operating similarly to traditional financial institutions.
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