Jack Dorsey's Block has applied for a national trust bank charter from the Office of the Comptroller of the Currency (OCC) to create Builders Bank & Trust for Bitcoin and stablecoin custody.
The proposed bank would operate under direct federal supervision but would not accept deposits or issue loans, separating it from a conventional bank.
Block joins a wave of crypto firms, including Ripple, Circle, BitGo, Kraken, and Zerohash, pursuing OCC charters to...
