Block applies for national trust bank charter to custody bitcoin and stablecoins

Block, the payments company founded by Jack Dorsey, wants federal regulators to let it custody bitcoin and stablecoins through a chartered trust bank. On Tuesday, the company said it applied to the Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, N.A., an uninsured, non-deposit-taking national trust bank. If approved,...