Jack Dorsey's Block Applies for National Trust Bank Charter, Plans Bitcoin Custody Services
OdailyOdaily News: Bitcoin News posted on X platform that Block, owned by Jack Dorsey, has applied to the U.S. Office of the Comptroller of the Currency to establish a federally regulated national trust bank, Builders Bank & Trust. If approved, the bank will provide bitcoin and stablecoin custody and related fiduciary services, with a focus on safeguarding client assets, and will not accept checks or savings deposits or offer loans. Lee Woolley, Block's head of digital asset strategy, will serve as the bank's president and CEO.
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