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Crypto· Crypto Regulation

Block Seeks OCC Charter for Uninsured Bitcoin and Stablecoin Custody Bank

Block has applied to form Builders Bank & Trust, N.A., an uninsured national trust bank that would operate under direct federal supervision and offer custody and fiduciary services for bitcoin and stablecoins. The company announced the filing on Sept. 8 and says the institution would not begin operating until it secures approval from the Office of the Comptroller of the Currency (OCC).

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