Block, Inc. filed an application with the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A. The proposed national trust bank will provide custody and fiduciary services for digital assets, including bitcoin and stablecoins.
The entity will be uninsured and will not accept deposits or issue loans. This charter provides a consistent national framework for Block’s digital asset operations as the business expands.
Lee Woolley, Block’s current Digital Asset Strategy Lead, will lead the new bank.