Fed Governor Waller: Will become more active in research and embrace payment innovation

According to Foresight News, at a meeting held by the Federal Reserve on crypto payment innovation, Federal Reserve Governor Christopher Waller said that the Federal Reserve will become more active in studying and embracing payment innovation. Waller stressed the Fed's intention to be an active participant in this revolution and said the agency must work 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 said one possible prototype is a "lite" master account that would provide access to the Federal Reserve's payment system. The Fed hopes to better understand how to interface traditional finance with decentralized finance, innovative stablecoin use cases, and the tokenization of financial products and services.
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