OCC urges regional banks to enter stablecoin payments market

The U.S. Office of the Comptroller of the Currency has urged regional banks to enter the digital payments market by issuing stablecoins, CoinDesk reported. Under the GENIUS Act, the OCC said regional banks can apply directly for licenses to issue dollar-pegged stablecoins or apply through subsidiaries. The agency is encouraging smaller lenders to enter the stablecoin payments market rather than leaving it to large banks or crypto companies. The OCC recently finalized rules to implement the GENIUS Act, with the measures set to take effect on Jan. 18, 2027. From that date, stablecoin issuers must comply with the final rules set by the OCC, although existing issuers with substantially completed license applications can seek temporary exemptions.