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Block applies for OCC charter for uninsured bitcoin and stablecoin custody bank

If approved, the proposed Builders Bank & Trust, N.A. would be federally supervised but would not take deposits or make loans.

Reported · Written up by our desk · Regulation

Block has applied to establish Builders Bank & Trust, N.A., a proposed uninsured national trust bank that would be directly supervised by the Office of the Comptroller of the Currency, the company said on Sept. 8, according to The Defiant.

The charter application would cover custody and related fiduciary services, including for bitcoin and stablecoins, and Block said the federal framework would support some of the custody and related activities it already offers.

Builders Bank would not accept deposits or make loans, and it would remain in the application stage pending OCC review and approval. Block also said the bank would not begin operating until it receives the required regulatory approvals.

At the reporting cutoff, the OCCs public digital assets table listed applications received through Aug. 19 and did not yet include Builders Bank. The OCC table showed 11 pending digital asset licensing applications received between Feb. 23 and Aug. 19, following OCC action in December 2025 that included conditional approval for five national trust bank applications.

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