Crypto Firm Block Files For U.S. Bank Charter

Payment and cryptocurrency firm Block, led by Jack Dorsey, has submitted an application to the Office of the Comptroller of the Currency to obtain a U.S. bank charter. If approved, the company would become a federally regulated national lender and establish a national trust bank called Builders Bank & Trust. The new bank would provide custody and fiduciary services for Bitcoin and stablecoins.

Other crypto firms, such as Coinbase Global and Circle Internet Group, have also received national bank charters in the U.S. since 2025, with the Office of the Comptroller approving 21 out of 40 applications. Block's application comes as crypto companies expand their offerings to consumers. The company's stock has decreased by 68% over the past five years, trading at $80.10 per share.