Jack Dorsey’s Block seeks US trust bank charter for Bitcoin, stablecoin

60-second summary

Jack Dorsey’s Block is applying for a U.S. trust bank charter to launch Builders Bank, a federally supervised institution that will provide digital‑asset custody services without taking deposits or issuing loans; the move aims to legitimize Bitcoin and stablecoin storage, potentially attracting institutional investors, boosting confidence in crypto custodial infrastructure, and spurring broader market adoption.