Wise plans to resubmit its application for a National Trust Bank license under the GENIUS Act framework in the United States

According to a research report by William Blair, cross-border payment company Wise plans to resubmit its application for a National Trust Bank license under the GENIUS Act stablecoin regulatory framework in the United States. The Office of the Superintendent of the Currency (OCC) previously rejected its original application and stated on July 21 that Wise's application is incompatible with the Federal Reserve's new policy regarding access to the payment system Master Account. William Blair, an analyst, pointed out that the Federal Reserve is currently suspending the granting of Master Accounts and is developing new policies for payment accounts.