Block applies to OCC for a national trust charter to custody bitcoin and stablecoins via Builders Bank

Block applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, N.A., described as an uninsured national trust bank that would provide custody and related fiduciary services for assets including bitcoin and stablecoins under OCC supervision, while not taking deposits or making loans ^{[1] [2] [3]}.

Block is seeking a federal trust charter as part of its digital-asset custody approach, aiming to shift custody activities into a single federal supervisory perimeter rather than operating arrangements under separate oversight ^[3].

Crypto Briefing said Block’s charter pursuit may boost institutional Bitcoin interest, framing it as a potential factor for long-term market perceptions and price forecasts ^[4].

Wu Blockchain reported that Block Digital Asset Strategy Lead Lee Woolley is expected to serve as president and CEO of Builders Bank if the application is approved ^[1].