institutional-banking · Block · banking · Bitcoin · custody
Block Applies to Establish Builders Bank & Trust
The proposed national trust bank would be uninsured and non-deposit-taking; it cannot operate under the charter unless the OCC approves the application.
Block has applied to the U.S. Office of the Comptroller of the Currency to establish Builders Bank & Trust as a national trust bank.
If approved, the institution would focus on custody and fiduciary services for assets including bitcoin and stablecoins. It would not accept deposits and would not carry federal deposit insurance.
The application reflects a broader effort by digital-asset companies to place custody and settlement functions inside nationally supervised structures. A trust charter can create a clearer operating perimeter, but it does not remove asset, technology, counterparty or compliance risk.
The proposal is not yet a charter. Builders Bank & Trust cannot operate as described unless the OCC completes its review and grants approval, potentially with conditions.
The next evidence is regulatory rather than promotional: the OCC's decision, any conditions attached to it and the final scope of services the institution is permitted to provide.
Sources and disclosures
Primary company announcement distributed by Business Wire on September 8, 2026. Proposed capabilities remain conditional on OCC approval.
Update note
Observed September 9, 2026 BRT. The institution is proposed, uninsured and non-deposit-taking.