July 2 (Reuters) - Money transfer company Wise Plc

has applied to be directly regulated by the U.S.

Office of the Comptroller of the Currency (OCC) to create a

national trust bank in the United States, according to an

official document.

An OCC document dated June 16 showed Wise seeking approval

to operate as a nondepository trust bank in the U.S., a move

first reported by Bloomberg News on Wednesday.

If the application is approved, Wise would be able to bypass

intermediary banks and settle U.S. dollar payments directly with

the Federal Reserve, potentially cutting costs, speeding up

transfers and giving it tighter control over its largest

currency flow.

It will also be a step toward deeper integration into the

U.S. financial system. Trust banks can offer limited financial

services.

Wise, which made its debut on the London market in 2021, is

planning to move its primary listing to the U.S. from London.

The company's U.S. hub will be in Austin, Texas, where the

firm already has about 450 staff.