Block Seeks Federal Charter for Bitcoin Custody Services Through Builders Bank
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According to ChainCatcher, Block, the payments company founded by Jack Dorsey, filed an application with the Office of the Comptroller of the Currency (OCC) on Tuesday to establish a non-insured national trust bank called Builders Bank & Trust, N.A. Block stated that if approved, the bank will offer custody and other trust services, including for Bitcoin and stablecoins. The federal license will also establish a federal regulatory framework for …
Jack Dorsey’s Block Applies for OCC Federal Bank Charter
What is confirmed at this stage is narrow: an application has been reported, tied to Block and directed at the OCC. Everything beyond that, including the filing date and the exact legal entity submitting the request, is not yet available for verification.Read more...
Block, the company founded by Jack Dorsey, is trying to get a federal bank card from OCC, without the approval being confirmed.
Block Applies to Establish Builders Bank, a National Trust Bank
DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Block, Inc. (NYSE: XYZ) today announced that it has submitted an application to the Office of the Comptroller of the Currency (“OCC”) to establish Builders Bank & Trust, N.A. (“Builders Bank”), an uninsured national trust bank. If approved, Builders Bank would operate as a federally regulated national trust bank under OCC supervision and would provide custody and related fiduciary services…
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapBlock seeks federal charter for Bitcoin custody services through Builders Bank
Block's federal charter pursuit may boost institutional Bitcoin interest, potentially impacting long-term market perceptions and price forecasts.
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