Jack Dorsey’s Block joins rush for federal bank charters from OCC
60-second summary
Jack Dorsey’s Block, Inc. files an application with the OCC to obtain a federal national‑bank charter, joining a wave of fintechs pursuing regulated status. The move aims to let Block offer full banking services, earn interest on deposits and expand its crypto‑wallet ecosystem. If approved, the charter could accelerate institutional adoption and intensify competition among digital‑finance providers.
Jack Dorsey-founded company Block, Inc., is taking its turn in seeking to become a federally regulated national bank.