The crypto industry took a significant step deeper into the traditional financial system on Wednesday after Kraken Financial, a Wyoming-chartered digital asset bank, was granted a Federal Reserve (Fed) master account. According to one expert, Ripple may follow suit.
The approval makes Kraken Financial the first crypto-focused bank in US history to gain direct access to the Federal Reserve’s payment infrastructure, a development many see as a landmark moment for the sector.
Crypto Enters Fed’s Core SystemThis milestone marks the convergence of crypto infrastructure and sovereign financial rails. With a Federal Reserve master account, we can operate not as a peripheral participant in the US banking system, but as a directly connected financial institution.
Barron went further, suggesting that Ripple could be next in line. He pointed to Ripple’s National Trust Bank charter, granted in December 2025, as a foundational step toward eventual Federal Reserve access.
Final Step For Ripple’s RLUSD ExpansionYet, Ripple is not alone in seeking this level of integration. Other crypto-focused institutions, including federally chartered Anchorage Digital, have also applied for Federal Reserve master accounts but have not yet received approval.
As of this writing, XRP was trading at $1.45, up 6% amid a wider crypto market recovery that began early on Wednesday with Bitcoin’s (BTC) lead.
Featured image from OpenArt, chart from TradingView.com
