Last night, Fed Governor Waller dropped a bombshell – crypto assets are no longer the "wild children of the gray area". Even more drastic, regulators are preparing to offer compliance institutions a "simplified master account", which is not just an ordinary VIP card, but a core channel that can directly connect to the Central Bank's payment system.

In plain terms: stablecoins like USDC, which operate honestly, no longer need to look at the banks' faces; they can directly interface with the Fed for settlement. The time for funds to arrive will be compressed from days to minutes, and the transaction fees might be significantly reduced. This is equivalent to an official endorsement, allowing stablecoins to enter the "circle of friends" for global dollar clearing.

After the icebreaking, who will taste the benefits first? I think it's mainly three groups of people:

**The First Wave: Stablecoin Big Brother**
Players in compliance routes like USDC and USDP see their credit and efficiency soar. With regulatory certification and speed enhancement, it's hard not to win.

**Second Wave: Infrastructure Maniac**
Institutions like Custodia Bank, which have been struggling for years to apply for main accounts, along with exchanges like Kraken and Coinbase, are set to experience a qualitative change in fiat currency deposit and withdrawal channels.

**Third Wave: DeFi Protocols**
Lending platforms like Aave and Compound, as well as decentralized exchanges on various chains, will obtain cheaper and smoother compliant liquidity, significantly reducing trading friction.

Although this initial account does not pay interest and cannot be overdrawn, its symbolic significance is far greater than its functionality itself – this is the first breach made by regulators in the walls of traditional finance.

The gate is loosening, and the water flow is coming fast. Which track do you think this wave of liquidity will rush into first?