According to Wu, Block has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, N.A., a national trust bank that will not be covered by deposit insurance. If approved, the bank will operate under OCC supervision to provide custody and related fiduciary services, including for Bitcoin and stablecoins, but it will not accept deposits or issue loans. Block stated that this license will provide a unified federal regulatory framework for its existing and future digital asset custody business. Builders Bank is expected to be led by Block's Head of Digital Asset Strategy, Lee Woolley, as President and CEO. The application is still pending OCC approval. https://(wublock123.com)/news/block-files-national-trust-bank-application-for-bitcoin-stablecoin-custody-68043