British payments company Wise has had its application for a national trust bank charter denied by the OCC, which cited the lack of an effective anti-money laundering and combating the financing of terrorism program. The OCC has, however, approved similar charters for several digital asset companies over the past year, including Circle, Ripple Labs, Crypto.com and Coinbase. Wise is expected to file a new application under the GENIUS Act framework, legislation signed into law in July 2025 establishing a regulatory framework for payment stablecoin providers in the United States. The company will remain focused on lowering cross-border transaction costs regardless of the rail, according to analyst William Blair.
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