5 Del. C. § 3522: Capital and net worth requirements [For application of this section, see 85 Del. Laws, c. 339, § 2].

(a) A permitted payment stablecoin issuer shall maintain minimum capital sufficient to ensure its ongoing operations. The Commissioner shall promulgate regulations establishing the following:

(1) A minimum fixed capital requirement for de novo permitted payment stablecoin issuers, which must not be less than $5,000,000.

(2) A minimum ongoing capital requirement equal to not less than 12 months of the issuer’s projected operating expenses.

(3) Any additional capital requirements the Commissioner determines are appropriate based on the issuer’s risk profile, business model, outstanding issuance value, or other relevant factors.

(b) The Commissioner may, by regulation or order, require a state-qualified payment stablecoin issuer to maintain capital buffers above the minimum requirements of subsection (a) of this section if the Commissioner determines that additional capital is necessary to ensure the ongoing operations of the issuer, having regard to the issuer’s business model and risk profile.

(c) The Commissioner’s capital requirements under this section shall do the following:

(1) Be tailored to the business model and risk profile of permitted payment stablecoin issuers.

(2) Not exceed requirements that are sufficient to ensure the ongoing operations of the issuer.

(3) Align, to the extent practicable, with capital requirements established by the primary federal payment stablecoin regulators for federal qualified payment stablecoin issuers, to maintain the substantial similarity necessary for GENIUS Act [12 U.S.C. § 5901 et seq.] certification.