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Wise plans to resubmit national trust bank application under GENIUS Act
The OCC has already issued conditional approvals to multiple stablecoin-focused entities since December, setting a precedent for the bank application resubmission.
Wise is planning to resubmit its national trust bank application using the GENIUS Act framework, according to The Block.
The move follows guidance on the application path after the Office of the Comptroller of the Currency, or OCC, granted conditional approval to several stablecoin-focused entities since December.
The Block reports that Wise will align its filing with the GENIUS Act structure after that approval activity indicated how the regulator may evaluate similar applicants.
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