🚨HUGE: Jack Dorsey's Block has applied to become a federally regulated Bitcoin and stablecoin bank. The company filed with the OCC to establish "Builders Bank," an uninsured national trust bank that would custody Bitcoin and stablecoins under federal supervision. It would not accept deposits or make loans, operating purely as a crypto custody institution. Block joins Ripple, Circle, BitGo, Fidelity and Paxos in the race for a national trust bank charter, per Bloomberg.(Coin Bureau)