Regulatory Alerts2026-07-23 | Corporate Decision 1388Added · Updated
Corporate Decision 1388 - Application by SoFi Bank, National Association, Cottonwood Heights, UT to establish an operating subsidiary
SoFi Bank, National Association's application to establish an operating subsidiary is approved by the Office of the Comptroller of the Currency (OCC). This subsidiary is authorized to engage in the issuance and redemption of payment stablecoins, including those branded by the Bank and those issued for third-party clients. This approval is conditional on the Bank conforming, ceasing, or divesting its stablecoin activities to comply with the GENIUS Act and future applicable laws, as determined by the OCC. The approval automatically terminates if the subsidiary is not established within 12 months from the letter's date, unless an extension is granted.
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