{"id":225253,"date":"2026-09-09T20:35:41","date_gmt":"2026-09-09T20:35:41","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=225253"},"modified":"2026-09-09T20:35:41","modified_gmt":"2026-09-09T20:35:41","slug":"jack-dorseys-block-becomes-latest-bitcoin-focused-company-to-apply-for-banking-charter","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=225253","title":{"rendered":"Jack Dorsey\u2019s Block Becomes Latest Bitcoin-Focused Company To Apply for Banking Charter"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Jack Dorsey\u2019s Block Becomes Latest Bitcoin-Focused Company To Apply for Banking Charter<\/a><\/p>\n

<\/div>\n

Bitcoin-focused Block Inc. has become the latest company to apply for a U.S. banking charter.\u00a0<\/p>\n

The company, which manages Square, Cash App, and Bitkey, said<\/a> Wednesday that it had submitted an application to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A.<\/p>\n

Block joins a long-list of digital asset firms that have received conditional approval or are awaiting approval from the regulator to have the license. The charter would allow companies \u2014 if fully approved \u2014 to have certain banking powers, such as custody assets and move client funds.\u00a0\u00a0<\/p>\n

\n

JUST IN: Block applies to establish Builders Bank & Trust with the OCC, which would provide federally regulated custody and “fiduciary services” for Bitcoin and stablecoins. pic.twitter.com\/Dkq7WIg6Wa<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) September 8, 2026<\/a>\n<\/p><\/div>\n

\u201cBuilding on Block\u2019s experience in the digital asset space, our history with Square Financial Services, and the deep banking expertise of the team we\u2019ve assembled, we believe Builders Bank is well positioned to support Block\u2019s broader vision of economic empowerment,\u201d Lee Woolley, who would serve as President and CEO of Builders Bank, said in a statement.\u00a0<\/p>\n

Block said that, if approved, Builders Bank would operate as a federally regulated national trust bank under OCC supervision and provide custody and related fiduciary services, including for bitcoin and stablecoins.\u00a0<\/p>\n

A number of top crypto companies have received conditional approval, including Coinbase, Circle, Crypto.com, and Paxos.<\/p>\n

Decentralized financial protocol World Liberty Financial, backed by U.S. President Donald Trump, also received approval this year.\u00a0<\/p>\n

Block CEO and founder Jack Dorsey, a Bitcoin maximalist, has been pushing for the biggest and oldest cryptocurrency to become everyday money.\u00a0<\/p>\n

His point-of-sale products, Square, last year rolled out<\/a> bitcoin acceptance for millions of eligible U.S. small businesses, with no setup required and transactions instantly converted to dollars at checkout.\u00a0<\/p>\n

This post Jack Dorsey\u2019s Block Becomes Latest Bitcoin-Focused Company To Apply for Banking Charter<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Jack Dorsey\u2019s Block Becomes Latest Bitcoin-Focused Company To Apply for Banking Charter Bitcoin-focused Block Inc. has become the latest company to apply for a U.S. banking charter.\u00a0 The company, which manages Square, Cash App, and Bitkey, said Wednesday that it had submitted an application to the Office of the Comptroller of the Currency […]<\/p>\n","protected":false},"author":0,"featured_media":225254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-225253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/225253"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=225253"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/225253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/225254"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=225253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=225253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=225253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}