Wise shares fall 10% after US denial

• Wise’s U.S. national trust bank application was denied by the OCC.
• London-listed Wise shares fell 10% following the announcement.
• Wise plans to apply again under the GENIUS Act framework.

Wise (NASDAQ:WSE) shares fell 10% after U.S. regulators denied its national trust bank application for direct Federal Reserve access.

Wise applied in June 2025, before the Federal Reserve proposed revised payment-access rules for uninsured trust banks in May 2026.

Wise said the denial does not affect operations across 48 states, four territories or its portfolio of more than 80 global licences.

The OCC also cited a July 2025 consent order, while Wise said it strengthened U.S. compliance controls, reporting and staffing.

Wise plans a GENIUS Act application.

Wise began Nasdaq trading in May and launched a £405 million share buyback in July, scheduled through March 2027.

Q1 FY27 net revenue rose 25% to $714 million, while cross-border volume reached $69.3 billion and active customers reached 11.9 million.