New OCC stablecoin rule resets redemptions, and banks face big shifts
Summary
The OCC’s final GENIUS Act rule removes an automatic seven-day extension for heavy stablecoin redemption demand. Covered issuers generally must fully initiate payment within two business days after receiving a qualifying request, though bank processing may delay when funds become available. Requests exceeding 10% of a stablecoin brand’s outstanding issuance in 24 hours require notice to the OCC; issuers may seek an extension, but the regulator decides. The rule also sets onboarding and retail-access expectations and introduces supervisory reporting on redemptions, subject to approval. It takes effect Jan. 18, 2027.
