Wise Expected to Shift OCC Charter Strategy After Denial

Wise is expected to shift its OCC charter strategy to a GENIUS Act framework after the agency denied its national trust bank application. According to NS3.AI, William Blair said Wise is likely not to change its position on payment stablecoins. The Office of the Comptroller of the Currency cited concerns tied to anti-money laundering and countering the financing of terrorism compliance, along with risks related to illicit finance activity. The denial prompted expectations that Wise will adjust its approach under the GENIUS Act framework.