On the 8th, U.S. fintech giant Block announced that it has applied to the Office of the Comptroller of the Currency (OCC), which is responsible for issuing bank licenses and supervision, for the establishment and approval of a trust bank named 'Builders Bank'. If approved, Builders Bank will operate under the supervision of the OCC as a federally licensed trust bank providing custody and trust services, including the management of Bitcoin (BTC) and stablecoins.
Builders Bank will not be covered by deposit insurance and will not engage in deposit acceptance or lending...
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