The Office of the Comptroller of the Currency (OCC) issued its final payment stablecoin rule Oct. 21, setting federal requirements for issuers’ reserves, redemptions and connected services.
The framework covers payment stablecoin issuers authorized under federal law and foreign issuers within the OCC’s jurisdiction. It also reaches selected custody services at firms supervised by the agency.
Covered institutions include national banks, federal savings associations, federal branches of foreign banks and nonbank firms seeking federal approval.
Payment stablecoins are digital currencies designed to track fiat currencies. Congress enacted the GENIUS Act in 2025, establishing a federal framework for the category.
Federal approval requirements for U.S. issuers generally start Jan. 18, 2027, when the OCC rule is scheduled to take effect. EconoTimes previously covered the final GENIUS Act rules for U.S. payment stablecoin issuers.
