A new analysis is drawing attention across the XRP community after connecting a series of recent regulatory developments that could shape how crypto firms access U.S. payment infrastructure in the future.
The discussion centers on a May 19 executive order signed by Donald Trump, which directed the Federal Reserve to provide clearer and faster procedures for crypto and fintech firms seeking access to payment infrastructure. The order reportedly requires decisions on completed applications within 90 days and frames the issue as a matter of U.S. competitiveness.
Fed Opens New Framework, Then Pauses Applications
Just one day later, the Federal Reserve opened a 60-day public comment period on so-called “skinny accounts,” a framework that could allow eligible non-bank institutions to access Federal Reserve payment rails with limited privileges.
However, according to the analysis, on May 20–21, 2026, the Federal Reserve proposed a new framework for “Skinny Master Accounts,” which would give eligible institutions access to payment settlement services without benefits such as interest on reserves or emergency lending. At the same time, the Fed paused new Tier 3 account applications until December 31, 2026, while it finalizes the rules, and opened a 60-day public comment period on the proposal.
The “Line of Three”
The analyst claims only three firms were already in line before the pause took effect:
- Ripple
- Anchorage Digital
- Wise
Why Ripple Stands Out, According to the Analysis
The analysis argues that each firm brings different strengths to the table.
While Wise has built a large global remittance business and Anchorage Digital operates as a federally chartered crypto bank with custody and issuance capabilities, the analyst says that Ripple has a unique advantage through its existing cross-border payments infrastructure.
He highlights Ripple’s conditional OCC approval, New York regulatory oversight, and the launch of its stablecoin, RLUSD, which is designed to be fully backed and compliant with emerging U.S. stablecoin standards.
Most importantly, the analysis points to Ripple’s existing payment network and On-Demand Liquidity (ODL) corridors, which use XRP as a bridge asset for international settlement.
Bigger Than Payments?
He further argues that the debate is not really about payments but about access to financial infrastructure.
According to the theory, institutions with direct access to Federal Reserve settlement systems could become critical hubs in future financial networks, similar to how correspondent banking relationships helped establish the dominance of the U.S. dollar system.
He also references Kraken, which reportedly became the first crypto-native institution to secure a Federal Reserve master account in March 2026 after a multi-year application process.
While these observations remain speculative and do not represent official government positions, the analysis has fueled discussion among XRP supporters who see Ripple’s payment infrastructure, RLUSD stablecoin, and XRP liquidity network as potentially positioning the company favorably if direct Federal Reserve access expands to additional crypto firms in the future.
