Wise Seeks Second Chance at US Banking Charter

Wise, a payments company, has decided to reapply for a national trust bank charter in the US after its initial application was rejected by the Office of the Comptroller of the Currency (OCC).

The rejection was due to gaps in Wise's anti-money laundering and countering the financing of terrorism program, as well as other illicit-finance risks.

The company plans to resubmit its application under the GENIUS Act framework, which provides a regulatory pathway for payment stablecoin activities.