aggregated●·Crypto·May 31, 2026

PACE Act Would Open Fed Payment Rails to Nonbanks — Crypto Eyes Access

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California Representatives Sam Liccardo and Young Kim introduced the bipartisan PACE Act, a bill that would grant certain nonbank financial providers direct access to Federal Reserve payment infrastructure. The legislation has drawn notable support from the crypto and fintech industries, which have long been blocked from the same payment rails that traditional banks use. If passed, it would represent one of the most significant structural changes to US payment infrastructure in decades.

Why it matters

For crypto and fintech companies, access to Federal Reserve payment rails would eliminate a massive competitive disadvantage — right now they rely on traditional banks as costly middlemen to move money. Crypto-native payment firms and stablecoins could see dramatically lower transaction costs and faster settlement, boosting the business case for digital asset payment networks. This is a long-term structural tailwind for crypto infrastructure plays, though passage is far from guaranteed.

Watch next

No scheduled vote date confirmed yet. Watch for: Senate companion bill introduction (signals serious momentum), House Financial Services Committee markup sessions, and any Federal Reserve public comment period if the bill advances to regulatory review.

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