Don’t miss out on these 8 crypto-friendly banks
As cryptocurrency adoption accelerates globally, retail and institutional investors are increasingly seeking crypto-friendly banking solutions. While some banks remain cautious, others embrace the opportunity to support digital assets, opening up accounts and offering services tailored to crypto-related businesses and enthusiasts.
Crypto-Friendly Banks in the United States
- Silvergate Bank
Silvergate Bank is a pioneer in the crypto banking space in the United States. Based in California, it has built a reputation for serving crypto-focused businesses and investors. Silvergate’s signature product, the Silvergate Exchange Network (SEN), facilitates 24/7 real-time USD payments for its clients. SEN is widely used by crypto exchanges, institutions, and companies to quickly and securely move funds in and out of the crypto markets.
Advantages:
- 24/7 payment network with no transaction fees
- Supports a wide range of crypto companies, from exchanges to custodians
- Extensive experience working with crypto-related businesses
Key Offering: The SEN network, which allows for instant USD transactions among Silvergate clients, is highly popular within the crypto industry and facilitates liquidity for crypto transactions.
- Signature Bank
Signature Bank, based in New York, is known for its blockchain-based payments platform, Signet, which enables clients to make real-time payments without transaction fees. The bank is proactive in providing services to crypto firms, including exchanges and institutional investors, making it a favoured choice for businesses that require fast, seamless fund transfers.
Advantages:
- Offers 24/7 real-time payments through the Signet platform
- No fees for transactions between Signet participants
- Crypto-friendly account setup processes
Key Offering: The Signet platform, built on blockchain technology, allows instant fund transfers and has become an essential tool for crypto businesses looking for speed and reliability in transactions.
- Metropolitan Commercial Bank
Metropolitan Commercial Bank is another crypto-friendly bank in the U.S. It provides banking services to cryptocurrency exchanges and has partnerships with leading crypto companies like Coinbase. Metropolitan Commercial is also one of the few banks with regulatory experience, as it complies with all necessary KYC and AML guidelines while serving the crypto sector.
Advantages:
- Support for crypto businesses and partnerships with leading exchanges
- High compliance standards with U.S. regulations
- Strong reputation among crypto startups
Key Offering: Comprehensive banking solutions tailored to crypto exchanges and companies, backed by a high level of compliance and security.
- BankProv (formerly The Provident Bank)
BankProv has been highly progressive in its approach to digital assets. The Massachusetts-based bank provides traditional banking services and customized crypto-friendly solutions, including access to secure, collateralized lending products, such as equipment and Bitcoin-backed loans.
Advantages:
- Offers innovative financing options, including crypto-collateralized loans
- Serves both individual investors and crypto companies
- 200+ years of banking experience, offering strong credibility and stability
Key Offering: Bitcoin-collateralized loans, providing a unique way for crypto businesses and investors to leverage their digital assets without selling them.
Crypto-Friendly Banks in the United Kingdom
- Revolut
Revolut has established itself as one of the most crypto-friendly fintech banks in the UK. This digital-only bank allows users to buy, sell, and hold cryptocurrencies directly through its app. It supports a range of digital assets and offers ease of conversion between crypto and fiat, making it popular among retail crypto investors in the UK.
Advantages:
- Allows users to buy, sell, and hold cryptocurrencies within the app
- User-friendly app interface and accessible customer service
- Competitive exchange fees for crypto trading
Key Offering: Revolut’s app-based platform provides an all-in-one experience, allowing users to manage both fiat and digital currencies seamlessly.
- Barclays (Support for Crypto Companies)
Barclays, one of the largest banks in the UK, has shown significant interest in supporting cryptocurrency firms, though it maintains strict compliance requirements. The bank has previously partnered with Coinbase to support payments for its UK customers, though it has since adjusted its approach due to regulatory pressures. Nevertheless, Barclays continues to work with select crypto companies that meet its stringent standards.
Advantages:
- High level of regulatory compliance
- Partnership with established crypto firms, providing access to traditional banking infrastructure
- Reputation and credibility as one of the UK’s largest banks
Key Offering: Barclays provides banking services to carefully selected crypto clients, supporting the growing need for compliant, reliable banking solutions.
- ClearBank
ClearBank is a UK-based banking partner for crypto companies that aims to bridge traditional finance with the digital asset space. Although relatively new, ClearBank is one of the few institutions offering reliable banking infrastructure to crypto businesses in the UK, and it is highly regarded by industry stakeholders.
Advantages:
- Provides banking solutions tailored for fintech and crypto startups
- Partnered with various crypto businesses, giving users access to a wider network
- Focuses on security and compliance within the rapidly evolving crypto space
Key Offering: ClearBank specializes in providing secure and efficient banking services for fintech and crypto companies, making it a popular choice among UK-based crypto businesses.
- Monzo
Monzo is a digital bank with a user base that includes crypto enthusiasts. Although it doesn’t directly offer crypto buying and selling, Monzo supports fiat transfers to cryptocurrency exchanges, making it accessible for UK residents who want to invest in crypto. Monzo is also known for its customer-centric digital banking services, allowing users to seamlessly integrate with crypto exchanges like Binance and Coinbase.
Advantages:
- Simple and accessible transfers to cryptocurrency exchanges
- User-friendly mobile app experience
- Support for various digital banking features, such as spending notifications
Key Offering: Monzo’s ease of integration with crypto exchanges makes it a convenient choice for those looking to manage fiat and crypto transactions through a digital bank.
Conclusion
The rise of crypto-friendly banks is a promising trend for the digital asset market in both the United States and the United Kingdom. Banks like Silvergate, Signature, Revolut, and Barclays are embracing cryptocurrency by offering services that bridge traditional and digital finance. Whether through real-time payment platforms, partnerships with exchanges, or crypto-collateralized loans, these banks support the growing crypto ecosystem while ensuring compliance and security. As the regulatory landscape continues to evolve, the role of crypto-friendly banks will become increasingly critical for investors and companies looking to participate in the digital economy.
