Federal Reserve Board Governor Christopher Waller announced that the Fed will actively engage in exploring innovative developments in the payments sector. Speaking at the Federal Reserve's Payment Innovation Conference, Waller emphasized the need for the Fed to integrate these innovations with the traditional financial ecosystem. He highlighted the exploration of a "payment account" concept, potentially a "lite" master account for accessing the Fed's payment system. Waller also noted the importance of understanding the coordination between traditional and decentralized finance, including stablecoins and tokenization. The conference will further examine the role of artificial intelligence in payments, underscoring the Fed's commitment to being a proactive participant in the ongoing transformation of the payments landscape.