Guidance on the Provision of Banking Services to Fiat-backed Stablecoin Issuers
Summary
The Wolfsberg Group, a consortium of twelve international banks, has published guidance on managing financial crime risks when providing banking services to fiat-backed stablecoin issuers operating in regulated jurisdictions. The guidance addresses operating accounts, reserve management, and client settlement relationships, applying established AML/CFT principles to stablecoin-specific contexts.
“The Wolfsberg Group believes that most of the same financial crime risk management principles apply in developing and monitoring a relationship with any type of bank or non-bank financial institution, which is reinforced in this document.”
What changed
The Wolfsberg Group published guidance establishing a financial crime risk management framework for banks providing services to fiat-backed stablecoin issuers. The guidance affirms that existing AML/CFT principles apply to these relationships while identifying unique risks associated with stablecoin operations. The document represents the consensus view of twelve major international banks.
Banks considering relationships with fiat-backed stablecoin issuers should review the framework when developing or monitoring such relationships. The guidance may inform industry practice even absent formal regulatory mandate, given the participating institutions' market significance.
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Apr 20, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
2025-09-08
The Wolfsberg Group issues guidance on the provision of banking services to stablecoin issuers
Drawing the line on oversight and monitoring –
Banks continue to be pulled in every direction on how to manage the financial crime risks associated with digital assets. When it comes to stablecoins, the advent of regulation in critical jurisdictions across the world to normalise their use has created the expectation that the path will improve for stablecoin issuers as they seek access to traditional banking.
Today the Wolfsberg Group addresses that tension directly with our Guidance on the Provision of Banking Services to Fiat-backed Stablecoin Issuers. Wolfsberg operates on a consensus basis – the guidance published today represents the collective view of the twelve member banks on the appropriate financial crime risk framework for providing operating accounts, reserve management, and client settlement to a fiat-backed stablecoin issuer.
Where to draw the line with respect to oversight and monitoring? The Wolfsberg Group believes that most of the same financial crime risk management principles apply in developing and monitoring a relationship with any type of bank or non-bank financial institution, which is reinforced in this document. However, this guidance also explores the unique financial crime risks associated with the provision of banking services to a fiat-backed stablecoin issuer operating in a regulated jurisdiction, and establishes a framework for financial institutions to manage these relationships appropriately.
You can access the full guidance here.
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Source document text, dates, docket IDs, and authority are extracted directly from Wolfsberg.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
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