Wow. Governor Waller of the the Federal Reserve directs its staff “payment account” a “a skinny master account” "beneficial for those focused primarily on payments innovations." These accounts would not get interest paid by the Fed

For the US this is a major shift. But compared to the rest of the world, its' becoming increasingly normal for nonbanks to have some limited access to entral bank services

This is obviously going to get attention for the stablecoin issuers, but short term the biggest beneficiaries will likely be fintech companies - Payments companies (e.g. Adyen, Stripe, Wise) - Neobanks (e.g. Chime, Ramp, Brex) They get better unit economics and more control.