REGULATION | Block Seeks U.S. Trust Bank Charter for Bitcoin, Stablecoin Custody

Jack Dorsey’s payments company, Block, has applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, an uninsured national trust bank. The proposed bank would provide custody and related fiduciary services for digital assets, including bitcoin and stablecoins, under OCC supervision, Block said. Builders Bank would not accept deposits or issue loans. Block said the proposed charter would provide a national framework for its custody operations as the business expands. REALITY […]