Financial Modernization in the First State
Summer 2026
Publication| Legal Opinions| Fund Finance| Private Equity Funds| Banking| Limited Liability Company & Partnership Advisory| Structured Finance| Trusts & Estates
In the first half of 2026, the Delaware General Assembly passed a series of bills to begin to modernize Delaware’s financial services industry for the 21st century, based in part on the recommendations of a small task force convened by Governor Matt Meyer to consider ideas for financial innovation. This financial modernization package is comprised of the Delaware Banking Modernization Act of 2026 (the “Modernization Act”), the Delaware Money Transmission and Virtual Currency Modernization Act (the “Money Transmission Act”), the Delaware Payment Stablecoins Act (the “Stablecoin Act”) and the Family Trust Company Act (the “FTCA”, and together with the Modernization Act, the Money Transmission Act, and the Stablecoin Act, the “Acts”). Governor Meyer signed the Modernization Act, the Money Transmission Act and the Stablecoin Act into law on July 6, 2026, and signed the FTCA into law on July 13, 2026.
Collectively, the Acts reflect Delaware’s effort to reinforce its position as a leading jurisdiction for banking, financial innovation and trust administration.
The Acts’ sponsors and supporters, including Governor Meyer, Senator Spiros Mantzavinos, and Representative Bill Bush, have compared the series of bills to the 1981 Financial Center Development Act, which set off a flurry of economic development by attracting credit card issuers and other banking subsidiaries to Delaware.7 While the economic impact of the Acts will be evaluated over the coming years, the enactment of this legislative package signals that Delaware is committed to creating a regulatory environment conducive to attracting new business in the financial sector. This article highlights some of the key provisions of, and the rationales behind, each of the Acts.