48CRYPTO
⚡ Markets: A move by a major fintech player to secure federal oversight for crypto custody could enhance institutional confidence in the asset class. Positive for Block (SQ) and could set a precedent for other crypto service providers.SQBTC
Block, the payments company led by Jack Dorsey, is seeking to establish a federally regulated trust bank named 'Builders Bank'. The entity would provide custody services for Bitcoin and stablecoins but would not accept deposits or issue loans, consolidating work currently done under numerous state licenses.
West MSM: noneWest Right 1Financial press 21 country
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