Jack Dorsey’s Block Applies for Bank Charter to Provide Bitcoin Custody

Block seeks bank charter for Bitcoin services

Block, the financial technology firm led by Jack Dorsey, has applied for a bank charter. The company intends to use the charter to offer Bitcoin custody services, which involves the secure storage of digital assets on behalf of customers.

This application marks a move by the company to expand its role in the cryptocurrency market by seeking formal banking status.

Key points about the application

• Block has filed an application to obtain a bank charter.
• The company aims to provide Bitcoin custody services directly to its users.
• The news was reported on September 9, 2026.

What is confirmed

It is confirmed that Block has submitted an application for a bank charter. The stated purpose of this filing is to enable the company to custody Bitcoin. This means the company would be legally permitted to hold and protect the digital assets belonging to its clients.

Why this matters for Bitcoin storage

A bank charter is a legal license that allows a company to operate as a bank. In the crypto world, \"custody\" is a term for the professional storage and protection of digital assets like Bitcoin. By obtaining a charter, Block would be able to provide these storage services within a regulated banking framework, potentially allowing it to manage customer assets without relying on outside financial institutions.

Sources

• Decrypt