Payment and cryptocurrency firm Block (NYSE: $XYZ) has filed for a U.S. bank charter that would make it a federally regulated national lender in America.

The company led by Jack Dorsey said it filed an application with the Office of the Comptroller of the Currency to establish a national trust bank that would be called “Builders Bank & Trust.”

If granted a license, Builders Bank would provide custody and other fiduciary services, including for Bitcoin (CRYPTO: $BTC) and stablecoins.

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Block operates the popular Cash and Square Apps for payments and is an acquirer of Bitcoin.

The company’s application for…