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

Crypto Insight Summary: 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,... Crypto Insight Analysis: Direction: Bullish BTC / Bullish USDC Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Increased institutional custody options boost BTC and stablecoin adoption.