Block Seeks OCC Charter for Uninsured Bitcoin and Stablecoin Custody Bank

Block has submitted an application to establish Builders Bank & Trust, N.A., a proposed uninsured national trust bank. If approved, the bank would operate under direct federal supervision but would not take deposits or make loans. Its primary focus would be providing custody and fiduciary services for digital assets, including bitcoin and stablecoins. This move signifies an effort to formalize custody solutions for cryptocurrencies within a regulated banking framework. The application is currently under review by the Office of the Comptroller of the Currency (OCC). The development reflects ongoing efforts within the crypto industry to integrate digital assets into traditional financial infrastructure under regulatory oversight.