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The OCC denied the UK company\u2019s app<\/a>lication this week citing AML\/CFT risks, despite approving similar charters for digital asset companies in the last year.<\/p>\n Update (July 25, 4:39 pm UTC): This article has been updated to include a response from Wise.<\/em><\/p>\n 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 \u201cunder a GENIUS Act framework,\u201d the legislation to regulate stablecoins in the country.<\/p>\n According to a Thursday notice<\/a> 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<\/a> that Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied<\/a> a charter to establish a national trust bank on Tuesday. <\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n