Wise Eyes GENIUS Route After OCC Stablecoin Setback 📜

Payments company Wise is preparing to refile its application for a US charter license under a framework created by the GENIUS Act, following a denial earlier this week from the Office of the Comptroller of the Currency, according to a Friday research note from investment banking group William Blair. The London-based firm was rejected on Tuesday for a national trust bank charter, with regulators citing an inadequate Anti-Money Laundering and Countering the Financing of Terrorism compliance program and "other illicit finance activity risks."

William Blair said Wise will likely keep its stance on payment stablecoins unchanged as it pivots to the GENIUS Act pathway. "Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail," the note stated. The GENIUS Act, signed into law in July 2025, creates a regulatory framework for payment stablecoin providers in the United States, though final implementation rules have not yet been approved by federal agencies.

Regulators missed a key deadline last week to issue guidance on the law ahead of its January 2027 effective date. Despite the delay, the OCC has already granted national trust charters to several digital asset firms under the new framework, including Circle, Ripple Labs, Crypto.com and Coinbase. Cointelegraph reached out to Wise for comment but did not receive an immediate response.