WisdomTree Leads Crypto Firms Applying for Federal Reserve Master Account Amid Regulatory Uncertainty

On June 30, Cryptoinamerica reported that three prominent cryptocurrency firms—WisdomTree Digital Trust, Standard Custody & Trust Company, and Commercium Financial—have formally submitted applications for the Federal Reserve’s master account. This move signals a growing confidence within the digital asset sector regarding potential regulatory easing that could enable crypto companies to access the Fed’s payment infrastructure. Notably, WisdomTree and Standard Custody operate as trust companies under the jurisdiction of the New York State Department of Financial Services (NYDFS). However, current federal guidelines leave ambiguity around their eligibility for master accounts, which typically require FDIC deposit insurance or authorization. Industry analysts suggest these applications may be strategically timed with expectations that the Trump administration might issue an executive order to broaden master account access for fintech and digital asset entities, a policy under consideration for several months.