{"id":1001506,"date":"2026-09-08T16:38:19","date_gmt":"2026-09-08T20:38:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/block-applies-to-establish-builders-bank-a-national-trust-bank\/"},"modified":"2026-09-08T16:38:19","modified_gmt":"2026-09-08T20:38:19","slug":"block-applies-to-establish-builders-bank-a-national-trust-bank","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/block-applies-to-establish-builders-bank-a-national-trust-bank\/","title":{"rendered":"Block Applies to Establish Builders Bank, a National Trust Bank"},"content":{"rendered":"

<\/p>\n

Block Applies to Establish Builders Bank, a National Trust Bank<\/b><\/p>\n

DISTRIBUTED-WORK-MODEL\/OAKLAND, Calif.–(BUSINESS WIRE<\/a>)–
\nBlock, Inc. (NYSE: XYZ) today announced that it has submitted an application to the Office of the Comptroller of the Currency (\u201cOCC\u201d) to establish Builders Bank & Trust, N.A. (\u201cBuilders Bank\u201d), an uninsured national trust bank.<\/p>\n

\nIf approved, Builders Bank would operate as a federally regulated national trust bank under OCC supervision and would provide custody and related fiduciary services, including for bitcoin and stablecoins. The charter would allow Block to support these activities through a consistent national framework as the business scales. Builders Bank would be an uninsured, non-deposit-taking national trust bank and would not accept deposits or make loans. The proposed charter would establish a federal supervisory framework for certain custody and related activities currently offered by Block.<\/p>\n

\n\u201cBuilding on Block\u2019s experience in the digital asset space, our history with Square Financial Services, and the deep banking expertise of the team we\u2019ve assembled, we believe Builders Bank is well positioned to support Block\u2019s broader vision of economic empowerment,\u201d said Lee Woolley, who would serve as President and CEO of Builders Bank. \u201cWe look forward to working with the OCC as we pursue a charter designed to support the secure custody of assets for Block and its customers.\u201d<\/p>\n

\nWoolley currently serves as Digital Asset Strategy Lead at Block and has more than two decades of banking and financial services experience. He previously served as President and CEO of Treasury Department Federal Credit Union and held senior banking leadership roles at Northern Trust and BNY Mellon.<\/p>\n

\nThe application is subject to review and approval by the OCC. Builders Bank would not commence operations unless and until it receives the required regulatory approvals.<\/p>\n

About Block<\/b><\/p>\n

\nBlock, Inc. (NYSE: XYZ) builds technology to increase access to the global economy. Each of our brands unlocks different aspects of the economy for more people. Square<\/b> makes commerce and financial services accessible to sellers. Cash App<\/b> is the easy way to spend, send, and store money. Afterpay<\/b> is transforming the way customers manage their spending over time. TIDAL<\/b> is a music platform that empowers artists to thrive as entrepreneurs. Bitkey<\/b> is a simple self-custody wallet built for bitcoin. Proto<\/b> is a suite of bitcoin mining products and services. Together, we\u2019re helping build a financial system that is open to everyone. Block.xyz<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260908865240\/en\/<\/a><\/span><\/p>\n

\nMedia Contact\u2028
\n
press@block.xyz<\/a><\/p>\n

\nInvestor Relations Contact\u2028
\n
ir@block.xyz<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Payments Finance Banking Professional Services Technology Apps\/Applications Fintech Digital Cash Management\/Digital Assets<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Block Applies to Establish Builders Bank, a National Trust Bank DISTRIBUTED-WORK-MODEL\/OAKLAND, Calif.–(BUSINESS WIRE)– Block, Inc. (NYSE: XYZ) today announced that it has submitted an application to the Office of the Comptroller of the Currency (\u201cOCC\u201d) to establish Builders Bank & Trust, N.A. (\u201cBuilders Bank\u201d), an uninsured national trust bank. If approved, Builders Bank would operate as a federally regulated national trust bank under OCC supervision and would provide custody and related fiduciary services, including for bitcoin and stablecoins. The charter would allow Block to support these activities through a consistent national framework as the business scales. Builders Bank would be an uninsured, non-deposit-taking national trust bank and would not accept deposits or make loans. The proposed charter would establish a … <\/p>\n

Continue reading “Block Applies to Establish Builders Bank, a National Trust Bank”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1001506","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBlock Applies to Establish Builders Bank, a National Trust Bank - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/block-applies-to-establish-builders-bank-a-national-trust-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Block Applies to Establish Builders Bank, a National Trust Bank - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Block Applies to Establish Builders Bank, a National Trust Bank DISTRIBUTED-WORK-MODEL\/OAKLAND, Calif.–(BUSINESS WIRE)– Block, Inc. (NYSE: XYZ) today announced that it has submitted an application to the Office of the Comptroller of the Currency (\u201cOCC\u201d) to establish Builders Bank & Trust, N.A. (\u201cBuilders Bank\u201d), an uninsured national trust bank. If approved, Builders Bank would operate as a federally regulated national trust bank under OCC supervision and would provide custody and related fiduciary services, including for bitcoin and stablecoins. The charter would allow Block to support these activities through a consistent national framework as the business scales. Builders Bank would be an uninsured, non-deposit-taking national trust bank and would not accept deposits or make loans. 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