Block, the fintech company founded by Jack Dorsey, has filed with the Office of the Comptroller of the Currency (OCC) to create Builders Bank & Trust, N.A., an uninsured national trust bank. This entity would be authorized to provide custody and fiduciary services for bitcoin and stablecoins under federal supervision, marking a departure from state-level licensing. Unlike traditional commercial banks, this new bank would not engage in deposit-taking or lending. OCC approval could boost institutional adoption of cryptocurrencies in the United States.
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