OCC Urges Community Banks to Enter Stablecoin Payments Market Under GENIUS Act
A US banking regulator is inviting community banks to help shape the future of payments by developing stablecoin capabilities.
The Office of the Comptroller of the Currency (OCC) has released Bulletin 2026-51 clarifying application and waiver processes under the GENIUS Act and is calling on community banks to get involved.
Says the OCC on X,
“Interested community banks are encouraged to consider applying to become, or for a subsidiary to become, a permitted payment stablecoin issuer, as applicable. These opportunities complement the OCC’s Community Bank Comeback initiatives to right-size regulation and tailor supervision so community banks can grow, compete, and continue serving their communities.”
Payment stablecoin issuers must comply with the GENIUS Act starting January 18th, 2027, or face criminal penalties for noncompliance without prior approval as a permitted issuer.
The bulletin details that existing US issuers with substantially complete applications pending by the effective date can generally expect waivers from the prior approval requirement for up to 12 months.
The OCC will begin accepting applications after the Office of Management and Budget approval of related information collection forms.
Applications must cover business plans, reserves, risk management and compliance functions, with the agency committing to review timelines of 30 days for completeness and up to 120 days for final action on substantially complete filings.
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