Konrad Rotkiewicz
11
min read
Last Update:
January 23, 2024

In today's financial sphere, the demand for crypto-friendly banks has never been more pronounced. As businesses and individuals continue to embrace the world of cryptocurrencies, they encounter the need for banking institutions that can seamlessly facilitate their crypto transactions. 

These crypto-friendly banks are not just a trend but a practical necessity for anyone looking to navigate the increasingly digital financial world. They provide a bridge between traditional banking and the emerging cryptocurrency market, allowing businesses and individuals to access, trade, and securely manage their digital assets. 

In this article, I'll guide you through a comprehensive exploration of crypto-friendly banks across three major regions: Europe, the United States, and Asia, helping you make informed decisions on choosing the right financial partner to navigate this crypto-friendly frontier.

What does it truly mean to be crypto-friendly?

The term "crypto-friendly bank" has emerged as a beacon for those looking to transact in the world of cryptocurrencies. But what exactly does it mean to be crypto-friendly, and why does it matter?

A crypto-friendly bank is a financial institution that embraces the digital era by adopting policies and practices that are supportive of cryptocurrency transactions and related activities. These banks have recognized the growing significance of digital assets and cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). They go beyond traditional banking services by allowing their customers to buy, sell, and securely store these digital assets, in addition to traditional fiat currencies such as USD or EUR.

However, being crypto-friendly is not limited to mere acceptance. These banks offer a host of services tailored to the needs of cryptocurrency users, such as secure custody solutions for digital assets. They facilitate trading on their platforms, enabling institutional investors and individuals to engage in crypto markets. 

Crypto-friendly banks may also provide lending products, offering businesses and individuals the ability to leverage their digital assets. Moreover, they often serve as a bridge between traditional banking and crypto, offering services for the conversion of fiat currencies to cryptocurrencies and vice versa.

The significance of choosing the right crypto-friendly bank cannot be overstated. With the increasing popularity and adoption of cryptocurrencies, selecting a bank that aligns with your specific needs and offers robust security measures is crucial. Whether you're an individual seeking to manage your crypto portfolio or a business entering the crypto sphere, the right crypto-friendly bank can be the key to a smooth and secure experience. In the following sections, I'll explore some of the prominent crypto-friendly banks in Europe, the United States, and Asia, each with its own unique set of services and advantages, assisting you in making an informed choice. 

Crypto-Friendly Banks in Europe

Europe stands as a hub for crypto-friendly banks, offering a diverse array of financial institutions that cater to the needs of both individuals and businesses in the cryptocurrency space. Let's explore some of the prominent players in this region, each offering a unique blend of services and features.

AMINA Bank 

AMINA Bank (previously known as SEBA Bank) a Swiss-based crypto-friendly bank that has gained recognition for serving as a secure gateway to digital assets. The bank provides a comprehensive suite of services for businesses and individuals, including custody, trading, lending, and payment processing. It is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and holds membership in the Swiss Bankers Association (SBA).

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Payment processing services for crypto businesses.
  • Membership in the Swiss Bankers Association.

Sygnum Bank 

Sygnum Bank, another Swiss-based institution, mirrors AMINA Bank's commitment to the crypto-friendly cause. It offers a similar suite of services, including custody, trading, lending, asset management, and tokenization. Like Amina Bank, Sygnum Bank is regulated by FINMA and is a member of the Swiss Bankers Association.

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Asset management services for digital assets.
  • Tokenization services for asset and security issuance.

Contovista 

Contovista, a German-based crypto-friendly bank, may offer a more limited suite of services compared to its Swiss counterparts, but it is a notable player. The bank is regulated by the German Federal Financial Supervisory Authority (BaFin) and specializes in offering business accounts for crypto companies, wire transfers for domestic and international transactions, and access to the SEPA payments network.

Key Features:

  • Business accounts for crypto companies.
  • Wire transfers for domestic and international transactions.
  • Access to SEPA payments network.
  • EUR and USD accounts.

BCB Group 

BCB Group is a global crypto-dedicated payment services provider, serving many of the industry's largest clients worldwide. It is trusted by prominent names like Bitstamp, Crypto.com, Fireblocks, Galaxy, Gemini, and Kraken. BCB Group provides payment services in over 30 currencies, FX, cryptocurrency liquidity, digital asset custody, and BLINC, which is BCB’s free, instant settlements network for the BCB client ecosystem. The company is regulated by the Financial Conduct Authority (FCA) as an Authorised Payments Institution in Switzerland. In January 2020, BCB Group’s core operating subsidiary, BCB Payments Limited, secured its Authorised Payment Institution (API) license from the UK Financial Conduct Authority.

Key Features:

  • Secure and regulated custody of digital assets.
  • Market-leading trading solutions for FX and cryptocurrencies at speed and scale offered to institutions
  • Payment processing services for crypto businesses.
  • Access to BLINC, BCB’s free, instant settlements network for the BCB client ecosystem.
  • FCA regulation.
  • BCB Group provides payment services in over 30 currencies regulated in the UK and Switzerland.

Clear Junction 

Clear Junction is a global payments solutions provider with a primary focus on facilitating the intersection between traditional banking and cryptocurrencies. It empowers digital currency businesses and exchanges by providing a secure and compliant infrastructure for seamless fiat-to-crypto and crypto-to-fiat transactions. Clear Junction's network spans over 180 countries, offering digital currency businesses access to a global customer base.

Key Features:

  • Seamless Fiat-to-Crypto and Crypto-to-Fiat Conversions.
  • Secure and Regulated Infrastructure authorized by the FCA.
  • Banking-as-a-Service (BaaS) Solutions.
  • Global Reach for a wide customer base.
  • Enhanced Fraud and Risk Management.

Bank Frick 

Bank Frick was one of the first banks in Europe to offer blockchain banking services in 2018. The Liechtenstein-based financial institution offers tailor-made solutions for financial intermediaries, asset managers, and trust companies, acting as custodians and paying agents for funds. Equipped with acquiring licenses from Visa and MasterCard, Bank Frick processes card payments for its clients worldwide. The extensive knowledge of its professionals ensures its pioneering position in the regulated blockchain banking sector.

Key Features:

  •  Institutional-grade Custody of crypto assets
  • Global trading with financial instruments and crypto
  • Secure Staking of leading assets
  • Fiat settlement seven days a week
  • Direct Market Access to brokers

Each of these banks plays a crucial role in shaping the crypto-friendly banking sector in Europe, offering a range of services that cater to diverse needs. Their commitment to regulatory compliance, security, and innovation makes them valuable allies for businesses and individuals.

Crypto-Friendly Banks in the United States

The United States hosts a dynamic ecosystem of crypto-friendly banks, each playing a unique role in supporting the cryptocurrency space. Here you can find a list of these banks, along with concise descriptions and key features that distinguish them.

BankProv 

BankProv, headquartered in Massachusetts, is a crypto-friendly bank that has gained recognition for its unwavering commitment to digital assets. It offers a comprehensive suite of services tailored to the needs of businesses and individuals venturing into the cryptocurrency space. 

These services encompass secure custody for digital assets, a dedicated trading platform for institutional investors, lending products, and payment processing solutions. What sets BankProv apart is its dedication to regulatory compliance.

 It is regulated by the Federal Deposit Insurance Corporation (FDIC) and operates as a member of the Federal Reserve System, ensuring that customer deposits up to $250,000 are protected by FDIC insurance.

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Payment processing services for crypto businesses.
  • FDIC regulation and insurance for deposits up to $250,000.

Evolve Bank & Trust 

Evolve Bank & Trust, based in Tennessee, shares BankProv's dedication to crypto-friendly banking services. It offers a similar range of solutions, including secure custody for digital assets, a trading platform for institutional investors, lending products, and payment processing services. Much like BankProv, Evolve Bank & Trust is regulated by the FDIC and is a member of the Federal Reserve System. This means that customer deposits are protected by FDIC insurance, enhancing the safety of digital assets.

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Payment processing services for crypto businesses.
  • FDIC regulation and insurance for deposits up to $250,000.

Mercury 

Mercury is a US-based banking platform that offers a comprehensive suite of financial services for digital businesses, including crypto-friendly features such as custody, trading, and payment processing. Mercury is regulated by the FDIC and is a member of the Federal Reserve System.

Key Features:

  • Secure and regulated custody for digital assets
  • Trading platform for institutional investors
  • Lending products for businesses and individuals
  • Payment processing services for crypto businesses
  • FDIC insurance for deposits up to $250,000
  • Sub-accounts and virtual IBANs
  • Crypto fiat exchange
  • Crypto fiat OTC
  • Robust API

These crypto-friendly banks in the United States are dedicated to regulatory compliance, ensuring the security and safety of digital assets. With the added protection of FDIC insurance for customer deposits, they offer a heightened level of confidence for businesses and individuals navigating the cryptocurrency space. Their diverse range of services further cements their status as valuable partners in crypto-friendly banking in the United States.

Crypto-Friendly Banks in Asia

Asia has emerged as a vibrant hub for crypto-friendly banks, providing businesses and individuals with a seamless gateway to the world of digital assets. Among these, three notable institutions stand out: DBS Bank, Mizuho Bank, and SBI Sumishin Net Bank. Let's delve into their offerings and regional significance.

DBS Bank 

DBS Bank, headquartered in Singapore, stands as the largest bank in Southeast Asia by assets as of 2023. Its significance in the region is underscored by its commitment to providing crypto-friendly banking solutions. The bank offers a secure and regulated platform for the custody of digital assets, a trading platform for institutional investors, lending products, asset management services, and expertise in tokenization. DBS Bank is regulated by the Monetary Authority of Singapore (MAS) and is a member of the Association of Banks in Singapore (ABS).

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Asset management services for digital assets.
  • Expertise in tokenization.
  • Membership in the Association of Banks in Singapore.

Mizuho Bank 

Mizuho Financial Group, headquartered in Tokyo, is the second-largest banking group in Japan by total assets. Its presence in the Asian financial landscape is a testament to its commitment to serving the digital asset industry. Mizuho Bank provides secure and regulated custody services for digital assets, a trading platform for institutional investors, lending products, asset management services, and expertise in tokenization. It is regulated by the Financial Services Agency (FSA) and is a member of the Federation of Bankers Associations of Japan (FBAJ).

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Asset management services for digital assets.
  • Expertise in tokenization.
  • Membership in the Federation of Bankers Associations of Japan.

SBI Sumishin Net Bank 

SBI Sumishin Net Bank, headquartered in Tokyo, is a Japanese online bank formed through a joint venture between SBI Holdings and Sumitomo Mitsui Banking Corporation. It has become a crucial player in the Asian crypto-friendly banking sector. The bank offers secure and regulated custody for digital assets, a trading platform for institutional investors, lending products, asset management services, and expertise in tokenization. SBI Sumishin Net Bank is regulated by the Financial Services Agency (FSA) and is a member of the Federation of Bankers Associations of Japan (FBAJ).

Key Features:

  • Secure and regulated custody of digital assets.
  • Trading platform for institutional investors.
  • Lending products for businesses and individuals.
  • Asset management services for digital assets.
  • Expertise in tokenization.
  • Membership in the Federation of Bankers Associations of Japan.

These crypto-friendly banks in Asia play a pivotal role in supporting the growth of the digital asset ecosystem in the region. 

Final Considerations

Crypto-friendly banks act as essential links between traditional banking systems and the flourishing domain of cryptocurrencies. As cryptocurrencies gain momentum, it becomes crucial for businesses and individuals to discover a crypto-friendly bank that aligns with their distinct needs and geographical preferences.

Explore and choose your financial ally wisely. By doing so, you can confidently navigate the diverse spectrum of digital assets, ensuring a secure financial future without any hiccups.

Written by
Konrad Rotkiewicz
CEO

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