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      Block Files for U.S. Bank Charter to Establish Builders Bank & Trust

      Payment and cryptocurrency firm Block, led by Jack Dorsey, has submitted an application to the Office of the Comptroller of the Currency in the United States for a national bank charter. If approved, the bank will operate under the name Builders Bank & Trust and will be positioned as a federally regulated national lender.

      The proposed Builders Bank would offer custody and fiduciary services, including for Bitcoin and stablecoins, reflecting the growing trend among cryptocurrency firms to expand their financial services. This move aligns with a broader industry shift, as several crypto-focused companies, such as Coinbase Global and Circle Internet Group, have successfully obtained national bank charters in the U.S.

      Since 2025, the Office of the Comptroller of the Currency has received 40 applications for bank charters, approving 21 of them. Block's application comes at a time when the cryptocurrency market is experiencing significant activity, with Bitcoin recently surpassing $80,000 and a notable surge in trading volumes.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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