Wise is back for another shot at a US banking charter after being denied by the OCC over concerns about its anti-money laundering and counter-terrorism financing systems. This time, they’re targeting the GENIUS Act framework — a new legislative path for stablecoin-focused companies — even though federal agencies missed a key deadline to finalize implementation rules. Despite the OCC’s recent rejections, Wise remains laser-focused on slashing cross-border fees, betting the GENIUS Act route better aligns with their mission — and they’re preparing to resubmit without delay.
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