Wise’s U.S. banking dreams just hit a major roadblock—regulators shut down their application to become a national trust bank, blocking direct Fed payment access. But don’t panic: they’re not quitting. Wise is pivoting to a new strategy under the GENIUS Act, focusing on digital assets like stablecoins, while also upgrading compliance to address past concerns. This setback? Just a detour on their path to reshaping U.S. payments.
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