Fintech Reserve Trust

lost it’s access to The Fed’s Master Account according to multiple sources. About a two minute read.

Comment: there is more going on here than meets the eye, it seems the incumbents are intensifying their pushback against Fintechs. We’ve spoken about this before on Fintech Flash News, and I’m of the opinion the incumbents will win this battle for two reasons: they have money and influence. Finally, this was Reserve Trust’s USP. Will be interesting to see how this firm progresses now that its just another money transfer service, who must now partner with a licensed financial intermediary aka, a bank.