Jack Dorsey’s Block Plans Bitcoin Trust Bank

Jack Dorsey’s firm, Block, is pursuing a national trust bank charter in the United States. The proposed entity, called Builders Bank, aims to provide regulated custody services for Bitcoin and stablecoins. This move signals a push to bring professional oversight to digital asset storage.

The firm clarified that Builders Bank will not function like a traditional commercial bank. It will not accept public deposits or issue loans. Instead, the focus remains entirely on secure custody services that operate under federal supervision.

This application is a notable milestone for the industry as major players look for clearer paths to manage crypto assets. Traders should watch for how regulators respond to the proposal, as a federal charter could set a new standard for how companies handle digital holdings for clients.