Block Seeks OCC Charter to Launch Bitcoin Custody Services
Block, the payments company founded by Jack Dorsey, has applied for a federal national trust bank charter. This move is aimed at enabling Block to offer Bitcoin custody services through Builders Bank, a proposed uninsured national trust bank.
The charter application, if approved, would allow Block to operate under the regulatory framework of the Office of the Comptroller of the Currency (OCC) without engaging in traditional banking activities like accepting deposits or issuing loans.
Market participants view this development as positive for the Bitcoin ecosystem and potentially influencing its future price predictions. Current market prices suggest a moderate increase in the perceived likelihood of Bitcoin reaching higher prices by the end of 2026.