Block seeks federal charter for Bitcoin custody services through Builders Bank

Bitcoin logo (public domain, Grayliptrot) via Wikimedia Commons Jack Dorsey’s payments company, Block, has filed for a federal national trust bank charter. This move is aimed at allowing Block to offer Bitcoin custody services through Builders Bank, a proposed uninsured national trust bank. The charter application, if approved, would enable 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. This regulatory step could indicate growing institutional interest in Bitcoin custody solutions. Market participants appear to view Block’s application as a positive development for the Bitcoin ecosystem, potentially influencing Bitcoin’s future price predictions. While the markets for Bitcoin reaching $200,000 by December 31, 2026, still show low YES pricing, the move by a major fintech like Block could alter long-term perceptions. Current market prices suggest a moderate increase in the perceived likelihood of Bitcoin reaching higher prices by the end of 2026. Key Takeaways Block’s application for a federal national trust bank charter appears to sugge...