July 24 : London-listed shares of Wise fell 10 per cent on Friday after the money transfer group said its application to create a national trust bank in the United States was denied by regulators, amid major changes in financial policy.The U.S. Office of the Comptroller of the Currency denied Wise's applicati
Wise's U.S. trust bank charter denied by regulators over Federal Reserve policy shifts; shares dropped 10%. The regulatory tightening signals lasting constraints on fintech payment infrastructure; Wise pivots to GENIUS Act digital-asset framework for U.S. settlement.
Wise tumbles after US declines national trust bank application
The logo for the money transfer company Wise is displayed on a screen during the company’s debut at the Nasdaq Market site, in New York City, U.S., May 11, 2026. REUTERS/Brendan McDermid
24 Jul 2026 03:27PM (Updated: 24 Jul 2026 03:56PM)
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The OCC declined Wise’s national trust bank application, denying the fintech direct Fed access. Shares fell about 10%. Wise plans…
Wise has been denied a US banking licence, just months after it switched its primary stock market listing to New York.
The London-based business had applied for a national bank charter in the US.
Wise's ambitions to deepen its presence in the U.S. suffered a setback after regulators rejected the fintech's application to…
The Office of the Comptroller of the Currency denied Wise's application for a US national trust bank charter, the payments…
Wise plans to reapply for a national trust bank charter under the GENIUS Act after the OCC denied its original application over…
Wise denied US banking licence after shifting main stock market listing
