OOC Rejects Wise's U.S. Trust Bank Charter, Cutting Off Direct Fed Access

The OCC denied Wise Group's national trust bank charter on July 24, 2026, blocking direct Federal Reserve master accounts for USD settlement. Wise, which has processed over $240 billion for 19 million customers, disclosed the denial via SEC Form 6-K. Existing U.S. operations through partner banks continue. Wise told the OCC it plans to reapply under the GENIUS Act framework.