Block has applied to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., a proposed uninsured national trust bank that would provide custody and fiduciary services for Bitcoin, stablecoins and other digital assets. The application, submitted on September 8, 2026, remains subject to OCC review and cannot authorize operations unless the regulator grants the charter and the bank meets opening requirements. The proposed institution would not accept deposits or make loans and would operate separately from Square Financial Services, Block's industrial bank. Lee Woolley would serve as Builders Bank's President and CEO if the application is approved. Block said the federal charter would support its digital-asset strategy, while CEO and founder Jack Dorsey continues to promote Bitcoin's use in everyday payments. Square last year enabled Bitcoin acceptance for millions of eligible U.S. small businesses, converting transactions to dollars at checkout. The application is part of a wider push by fintech and digital-asset firms to obtain direct federal oversight rather than rely on state-by-state licenses or sponsor-bank arrangements. The new report identified Coinbase, Circle, Crypto.com and Paxos as companies that have received conditional approval, while earlier reporting in this record said Circle and BitGo later received final OCC approval. World Liberty Financial, backed by U.S. President Donald Trump, also received conditional approval for its proposed trust company this year.