Block Inc. has applied to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., a federally regulated institution focused on digital asset custody and fiduciary services. The proposed national trust bank would support bitcoin, stablecoins and related digital assets under direct OCC supervision, extending Block’s crypto operations into a federally chartered structure.
According to Block’s official announcement via Business Wire, Builders Bank would operate as an uninsured, non-deposit-taking national trust bank if approved. The institution would not accept deposits or make loans, distinguishing its proposed business model from that of a conventional commercial or retail bank.
Builders Bank Targets Digital Asset Custody
The charter would give Block a national regulatory framework for custody and related fiduciary activities that the company currently operates across multiple regulatory environments. Federal supervision could simplify the compliance structure around Block’s growing digital asset business, reducing reliance on a patchwork of individual state-level requirements for certain activities.
Builders Bank would focus on holding and managing assets on behalf of customers while carrying the fiduciary responsibilities associated with a trust institution. Bitcoin and stablecoin custody would sit at the center of the proposed bank’s mandate, giving Block regulated infrastructure for safeguarding and transferring tokenized value.
The application does not mean Builders Bank has been approved or can begin operating. The OCC must review the proposal before granting a national trust charter, and Block said the bank would not commence operations without the necessary regulatory approvals. The filing therefore represents regulatory groundwork rather than the launch of a new banking entity.
OCC Review Becomes the Next Step
The OCC review will assess whether the proposed institution can satisfy the capital, governance, risk-management and operational standards required of a federally chartered trust bank. Obtaining a national charter would bring Block’s custody operations under continuing federal oversight, creating both a more consistent operating framework and additional compliance obligations.
The proposed structure also reflects how digital asset companies are increasingly seeking regulated infrastructure around custody rather than relying exclusively on crypto-native operating models. Block is attempting to place bitcoin and stablecoin services inside an established federal banking framework without entering the traditional deposit-taking and lending business.
No timeline has been provided for an OCC decision. Builders Bank remains a proposed institution pending regulatory approval, making the next significant milestone the regulator’s response rather than any immediate expansion of Block’s customer-facing services.
