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Block Seeks US Trust Bank Charter for Bitcoin and Stablecoin Custody
Crypto

Block Seeks US Trust Bank Charter for Bitcoin and Stablecoin Custody

Source Summary

Block, the company founded by Jack Dorsey, is seeking a US trust bank charter for its proposed Builders Bank. The bank would provide federally supervised digital asset custody services but would not accept deposits or issue loans.

Why it matters

A federally chartered trust bank would allow Block to offer regulated custody services for Bitcoin and stablecoins, addressing regulatory requirements for digital asset safekeeping.

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