Block, Inc. has moved to build a federally supervised custody business, applying to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., a proposed national
Block, Inc. has moved to build a federally supervised custody business, applying to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., a proposed national trust bank that would custody Bitcoin and stablecoins, according to a September 8, 2026 report. The plan positions a Block custody trust bank as an uninsured institution that would neither take deposits nor make loans, though the charter remains an application, not an approval.
The proposed Block custody trust bank, named Builders Bank & Trust, N.A., would provide custody and related fiduciary services, including for bitcoin and stablecoins, per PYMNTS reporting on Block's release. The structure mirrors a wider institutional pivot toward regulated digital-asset custody, following moves such as Circle's own application for a U.S. trust bank charter to custody USDC.
The proposal is forward-looking: the reporting describes an application and proposed terms, not an operating entity, a customer roster, or a launch. Lee Woolley, Block's digital asset strategy lead, is named as the proposed leader of Builders Bank. For related coverage, see Circle Applies for U.S. Trust Bank Charter to Custody USDC and Expand Institutional Services.
The plan centers on a federal charter application submitted to the OCC, which if approved would establish a federal supervisory framework for certain custody and related activities Block already offers, according to the same report. The company's own investor announcement is the origin of the claim, relayed through secondary reporting rather than a directly readable OCC docket. For related coverage, see Circle Plans $400 Million All-Stock Tazapay Acquisition.
What is confirmed is the application and its proposed terms; what is not is any regulatory decision. The reporting explicitly frames the charter's effects as conditional on approval and does not establish that the OCC has approved the bank or that the bank has launched. For related coverage, see NYSE Plans Blockchain Integration Into Market Infrastructure, Not a Full System Replacement.
Bitcoin and stablecoins are the only asset categories named in the proposal. The bank would offer custody and related fiduciary services, and, if approved, would operate as an uninsured national trust bank that would not accept deposits or make loans. For related coverage, see Cornell Bitcoin Adoption Index: El Salvador and Venezuela Lead.
Service details beyond that remain unspecified. The fetched report names no individual stablecoins, no supported blockchain networks, and no customer-eligibility terms, and the custody proposal supplies no authorization for stablecoin issuance, trading, lending, or deposit services. That asset-eligibility and network scope is the concrete follow-up question, framed as undisclosed rather than assumed.
For market context, Bitcoin traded at roughly $78,131 in the research snapshot, down about 0.8% on the day; that figure is ancillary and does not establish any price response to Block's reported application.
Bitcoin price · USD · Research snapshot
$78,131
Bitcoin price in the supplied CoinGecko research snapshot; the API supplied no observation timestamp. This is ancillary market context and does not establish a price response to Block’s reported application. The public source page may show a newer price.Several gaps persist in the available reporting, and should be read as limits of the current record rather than proof that no disclosures exist elsewhere:
The distinction matters for holders, builders, and policy watchers alike: an application, a charter approval, and an operational launch are three separate events, and only the first is reported here. The broader institutional stablecoin push, including a planned dollar stablecoin from Goldman Sachs, Bank of America and others, underscores why regulated custody rails are being contested now.
A proposed national trust bank, Builders Bank & Trust, N.A., to custody Bitcoin and stablecoins, together with a federal charter application to the OCC, according to the September 8, 2026 report.
No approval is established by the available reporting. The charter's effects are described as conditional on approval, which has not been verified.
Individual stablecoins are not specified in the fetched report, nor are any supported blockchain networks.
No launch date is provided. The reporting covers an application, not an operational institution.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
The post Block Plans Bitcoin and Stablecoin Custody Trust Bank was initially published on Coincu.
