Who Banks Cord Blood? Banking cord blood is a relatively new option for expectant parents. So, you may be wondering, who banks cord blood, and has it been useful? Cord Blood Banking Is A Global Practice Since it became available to the general public in the mid 1990s, people all over the world have begun to bank cord blood. The American Association of Blood Banks (AABB), a professional organization that works closely with the US FDA, has accredited dozens of cord blood banks worldwide, including in North America, Europe, the Middle East, Africa, Asia, and South and Central America.