Faryar Shirzad 🛡️(@faryarshirzad):Payment accounts at the Fed are an important step toward modernizing the U.S. payment system—and we want to see them actually work. That's why @coinbase filed comment letters with the @federalreserve this week. Our message is simple: expand access, but build a framework that's viable in practice. Three fixes matter most. - First, these accounts should earn interest on at least a threshold portion of balances. - Second, any overnight balance limit should be tailored to an institution's demonstrated payments needs. - Third, oversight should match the actual risk. Get these details right, and payment accounts can lower costs, strengthen competition, and keep the U.S. at the frontier of global payments.

2026.07.28 13:18

Payment accounts at the Fed are an important step toward modernizing the U.S. payment system—and we want to see them actually work. That's why @coinbase filed comment letters with the @federalreserve this week. Our message is simple: expand access, but build a framework that's viable in practice. Three fixes matter most. - First, these accounts should earn interest on at least a threshold portion of balances. - Second, any overnight balance limit should be tailored to an institution's demonstrated payments needs. - Third, oversight should match the actual risk. Get these details right, and payment accounts can lower costs, strengthen competition, and keep the U.S. at the frontier of global payments.