Block Builders Bank OCC charter stories

Sep 8, 2026

Block applies for federal trust bank charter to custody Bitcoin and stablecoins

Jack Dorsey's financial technology company Block has submitted an application to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, a federally regulated national trust bank that would provide custody and fiduciary services for Bitcoin and stablecoins.

Sep 8, 202611 sources

Top claims

▪Senator Elizabeth Warren criticized the Office of the Comptroller of the Currency in May 2026, accusing the regulator of abusing the National Bank Act by granting national trust charters to crypto firms that do not perform traditional fiduciary work.
▪The Office of the Comptroller of the Currency received 40 de novo bank charter applications between early 2025 and August 2026, of which 23 involved digital asset activities.
▪The proposed Builders Bank & Trust, N.A. would be led by Lee Woolley, Block's digital asset strategy lead, who would serve as president and CEO.

People involved

Jack Dorsey

Subtopics

Crypto & banking regulation Stablecoins Crypto custody regulation Crypto regulation Stablecoin regulation Bitcoin wallets & custody Institutional crypto adoption Bitcoin regulation

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