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Crypto

Wise to reapply for federal trust bank charter under Genius Act framework

Wise, a London-headquartered cross-border remittance and foreign-exchange services company, will submit a new application for a U.S. federal trust bank charter under the Genius Act stablecoin framework after the Office of the Comptroller of the Currency rejected its original proposal. The Block reported the OCC said the initial filing did not align with new Federal Reserve policy on payment system master account access. Reuters reported Wise will reapply on July 24.

Crypto

Ripple partners with Notabene, integrates RLUSD into B2B payments platform

Ripple is investing in compliance infrastructure firm Notabene and integrating its dollar-pegged stablecoin RLUSD into Notabene’s B2B payments platform, Notabene Flow. The companies plan to widen RLUSD’s use in institutional payments and review a compliance framework compatible with Ripple Payments. Notabene said it connects more than 2,300 institutions across over 100 jurisdictions and has annualised transaction volumes exceeding $2 trillion.

Crypto

Crypto markets rebound after White House reaches deal on CLARITY bill ethics provision

Cryptocurrency prices rose after expectations grew that the U.S. Senate could resume work on the CLARITY bill, a digital asset market structure measure. Reports said the White House agreed on an ethics package including a conflict-of-interest provision and shared language with some Republican senators, though details were not disclosed. Bitcoin and other tokens climbed. Market participants are watching the final ethics text and whether Democrats back the bill before an August recess.