Wise Resubmits Trust Bank Application Under GENIUS Act Rules

Wise has announced that it will resubmit its application for a U.S. national trust bank charter under the GENIUS Act rules after the Office of the Comptroller of the Currency (OCC) rejected its initial request in June 2025.

The OCC stated that Wise's initial application no longer met the revised Federal Reserve policies, which have since halted access to accounts of uninsured trust banks. The GENIUS Act, passed on July 18, 2025, created a federal system for payment stablecoins in the United States, and Wise believes this new law is a better way forward.

Wise emphasizes that it will not launch its own stablecoin but rather focus on providing interoperability between conventional payment systems and blockchain-based networks. The company aims to enhance the flow of money globally by helping companies integrate digital assets into existing payment systems, which are gaining traction in the financial industry.