Block, the fintech company founded by Jack Dorsey and Jim McKelvey, has applied to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., a proposed national trust bank focused on Bitcoin and stablecoin custody and related fiduciary services. The institution would operate as a non-bank trust company, holding digital assets for customers under federal oversight while accepting no deposits, making no loans and carrying no FDIC insurance. Lee Woolley, Block's head of digital assets strategy, is expected to lead the bank if the application is approved. A national charter would give Block one federal framework for the proposed activities rather than separate state rules. The application remains pending and does not establish regulatory approval, an operating bank or a launch date. It adds Block to a growing field of fintech and crypto companies seeking federal banking authorization; since 2025, the OCC has received 40 applications for new bank charters, approved 21 and rejected two. Revolut previously received conditional approval, while Coinbase, Paxos, BitGo, Ripple and Circle have also entered the process.