Coinbase Responds to Federal Reserve's Proposed Reserve Bank Payment Account Framework

On 14 February 2026, Coinbase Global Inc. disclosed it had filed a formal response on 6 February 2026 to the Federal Reserve concerning its proposed Reserve Bank Payment Account framework. The structure, if adopted, could permit eligible non-bank institutions to hold accounts directly with a Reserve Bank and access core U.S. payment settlement systems without intermediary banks. The framework is still under review and has not yet received regulatory approval.