Block Applies to Establish National Trust Bank, Plans to Provide Bitcoin and Stablecoin Custody Services
According to The Block, Jack Dorsey-founded payment company Block has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish an uninsured national trust bank named Builders Bank & Trust, N.A. If approved, the bank would provide custody and other trust services, covering Bitcoin and stablecoins. Block stated that this federal charter will establish a federal regulatory framework for some of its custody and related businesses.
