Ripple May Be Next Crypto Firm to Secure Direct Federal Reserve Access After Kraken

Ripple could become the next crypto-native company to obtain direct access to the U.S. Federal Reserve's payment system following Kraken, tech analyst and entrepreneur Paul Barron said. Kraken, through its banking subsidiary Kraken Financial, became the first crypto firm to receive a Federal Reserve master account for an initial one-year trial, allowing it to transact directly with the central bank via Fedwire and FedNow without using traditional commercial banks. Barron noted that Ripple has formally applied for a Fed master account, obtained a National Trust Bank Charter in December 2025, and is working with its RLUSD stablecoin, which he said would achieve bank-scale settlement if granted direct Fed access. Ripple CEO Brad Garlinghouse estimated an 80% probability that the CLARITY Act, which passed the House but remains stalled in the Senate over stablecoin yield clauses, will be adopted before the end of April 2026.