Finally, no longer have to worry about the bank's attitude. Although the conditions are strict, being able to connect directly to the Fed is already a historic breakthrough.

CoinWorld News, the Federal Reserve proposed on Wednesday the launch of a new, more limited type of payment account, which will allow fintech companies and other businesses to transfer funds through the Federal Reserve's payment system but will not enjoy all the protections available to traditional banks. The Federal Reserve stated in a release that the proposed account would not be able to access intraday credit or use the Federal Reserve's discount window, and the reserves held by businesses at the Federal Reserve would not earn interest. The proposal stems from the Federal Reserve's previous research on simplified accounts. Currently, the Federal Reserve is seeking to strike a balance between the two: on one hand, enabling more businesses to access its payment infrastructure, and on the other, avoiding unnecessary risks to the financial system.