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They will lose because the violation of the administrative procedural act won’t work
Custodia is still a good idea for Wyoming
They can operate without a master account
A master account is a Federal Reserve Bank account held by banks not individuals
But it must be important to their business model or why continually burn cash with this legal fight?
Amicus brief is pro bono
Master account is important for any bank.
A Federal Reserve master account is a record of financial rights and obligations between a financial institution and the Federal Reserve Bank. It is identified by a Primary nine-digit Routing Transit Number (RTN) and is used to settle transactions, manage reserves, and access various financial services provided by the Federal Reserve[2][3].
Sources
[1] Master Account and Services Database - Federal Reserve Board https://www.federalreserve.gov/paymentsystems/master-account-and-services-database-about.htm
[2] Master Account - FRBservices.org https://www.frbservices.org/financial-services/accounting/service-setup/master-account.html
[3] Master Accounts and Services Database -- FAQs https://www.federalreserve.gov/paymentsystems/master-account-and-services-database-faq.htm
[4] [PDF] Federal Reserve: Master Accounts and the Payment System https://crsreports.congress.gov/product/pdf/IN/IN12031
[5] Database: Existing Access - Federal Reserve Board https://www.federalreserve.gov/paymentsystems/master-account-and-services-database-existing-access.htm
Hate to be a downer but I think this will end in a loss for Custodia. The system can’t handle a fully reserved bank