Block Files Application to Establish Builders Bank for Bitcoin and Stablecoin Custody

Block, the payment company led by Jack Dorsey, has applied to establish Builders Bank & Trust, N.A. If approved, the institution will operate as an uninsured national trust bank under the direct supervision of the Office of the Comptroller of the Currency (OCC), focusing on Bitcoin and stablecoin custody services without accepting deposits or issuing loans. The application is currently pending OCC review.