Wise | Crypto

The OCC denied the UK company’s application this week citing AML/CFT risks, despite approving similar charters for digital asset companies in the last year. Update (July 25, 4:39 pm UTC): This article has been updated to include a response from Wise. Payments company Wise will to change its strategy for applying for a charter license with the US Office of the Comptroller of the Currency (OCC) to one “under a GENIUS Act framework,” the legislation to regulate stablecoins in the country. According to a Thursday notice from Wise, the company plans to submit a new application for a national trust bank charter under a GENIUS Act framework. Investment banking group William Blair said that Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday. Read more

Wise is hiring a digital-asset product lead focused on stablecoins, signaling potential expansion into crypto amid shifting global regulations. Wise, the global currency exchange and payment platform, is hiring a digital-asset product lead with a focus on stablecoins, a move that could signal the company’s expansion into the cryptocurrency space amid improving global regulation. Wise’s product director, Matthew Salisbury, posted the position on LinkedIn last week. The role will be based in London, where Wise’s global headquarters are located. “If you've built wallets and/or payments solution based on stablecoins and you now want to do it at Wise apply through the ad or DM me,” Salisbury wrote. Read more