The rise of digital assets has reshaped the financial landscape, prompting traditional banks and fintech platforms to adapt by offering services that bridge conventional banking with cryptocurrency ecosystems. In the United States, a growing number of financial institutions are embracing crypto-friendly policies—ranging from enabling seamless fiat-to-crypto transfers to integrating direct digital asset management. This guide explores the top U.S. banks and financial platforms that support cryptocurrency activities while maintaining regulatory compliance and security.
What Is a Crypto-Friendly Bank?
A crypto-friendly bank in the U.S. facilitates customer interaction with digital assets like Bitcoin and Ethereum through two primary models:
- Integrated Crypto Services: These institutions allow users to buy, sell, and hold cryptocurrencies directly within their banking or investment platforms.
- Exchange-Supportive Banking: While not offering native crypto trading, these banks enable smooth ACH transfers and wire transactions to and from FinCEN-regulated crypto exchanges.
Both approaches provide secure on-ramps to the digital asset economy while adhering to federal regulations such as anti-money laundering (AML) and know-your-customer (KYC) requirements.
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Top Crypto-Friendly Banks in the USA
1. Revolut
Revolut, founded in 2015, has evolved into a leading fintech platform offering traditional banking, multi-currency accounts, and crypto investment tools. Operating as a Money Services Business (MSB) registered with FinCEN, Revolut provides a unified app experience for managing fiat and digital assets.
Pros:
- Partnered with FDIC-member Lead Bank for U.S. banking services; regulated as an SEC-registered investment advisor via Revolut Wealth Inc.
- Instant conversions between USD and major cryptos like Tether (USDT) and Solana (SOL).
- Supports over 200 cryptocurrencies, rivaling dedicated exchanges.
Cons:
- Trading fees range from 0.49% to 1.49%, depending on subscription tier (Standard, Premium, or Metal), plus monthly fees starting at $9.99.
- Lacks advanced features such as derivatives, staking rewards, or deep market analytics.
- Limited withdrawal capabilities to external wallets—only select assets can be transferred out.
2. Ally Bank
Ally Bank, established in 2009, is a fully online bank known for its user-friendly interface and strong FDIC protection. While Ally Invest does not support direct crypto purchases, it offers indirect exposure through financial products tied to digital assets.
Pros:
- Enables smooth fund transfers between bank accounts and regulated crypto exchanges.
- Access to crypto-related investments like Bitcoin futures ETFs, Grayscale trusts, and publicly traded blockchain stocks.
- Trusted security backed by FDIC insurance up to $250,000 per depositor.
Cons:
- No direct crypto trading or wallet integration.
- Indirect products like futures and trusts come with complexity and higher fees.
- Users lack full control over private keys, limiting participation in DeFi or staking.
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3. Mercury
Mercury, launched in 2017, specializes in banking solutions for startups and small businesses, particularly those in the blockchain and crypto sectors. It partners with FDIC-insured banks to offer checking and savings accounts with streamlined fiat access to crypto markets.
Pros:
- Tailored for crypto-focused companies with fast onboarding and dedicated support.
- Facilitates quick wire transfers to major exchanges like Coinbase and Gemini.
- Offers customizable virtual and physical debit cards for unrestricted crypto investing.
Cons:
- Accounts are fiat-only; no native crypto storage or trading.
- No built-in investment, staking, or yield-generating tools.
- Relies on third-party FDIC-insured institutions, which may add complexity for users seeking direct relationships.
4. Quontic
Quontic is a New York-based digital bank recognized for innovative personal finance solutions. Though it doesn’t offer direct crypto trading, it launched the first FDIC-insured checking account that rewards users with Bitcoin.
Pros:
- "Bitcoin Rewards Checking" account offers 1.5% cashback in BTC on debit card purchases.
- Presence in Decentraland allows users to explore NFTs and engage with virtual banking services.
- Partners with NYDIG for institutional-grade custody of earned Bitcoin.
Cons:
- Bitcoin rewards are currently available only in select states.
- No internal crypto holding or trading functionality.
- Converting BTC rewards to USD incurs third-party fees, reducing net gains.
5. Cash App
Developed by Block (formerly Square), Cash App is a mobile-first platform serving over 20 million users. It enables easy Bitcoin purchases starting at $1, along with direct deposits and peer-to-peer payments.
Pros:
- "Round Ups" feature converts spare change into Bitcoin using the linked Cash App Card (issued by Sutton Bank).
- Majority of BTC holdings stored in cold wallets for enhanced security.
- Low entry barrier makes it ideal for beginner investors.
Cons:
- Only supports Bitcoin—no access to Ethereum or other altcoins.
- Missing advanced tools like staking, futures, or limit orders.
- High fees: up to 3% on small trades ($10 or less), decreasing to 0.75% for larger amounts.
6. Customers Bank
Based in Pennsylvania, Customers Bank operates a blockchain-based payment system called CBIT (Customers Bank Instant Token), enabling real-time USD settlements 24/7.
Pros:
- CBIT supports round-the-clock dollar transfers crucial for crypto firms.
- Collaborates with major exchanges and stablecoin issuers.
- No transfer limits to regulated crypto platforms.
Cons:
- Facing regulatory scrutiny over compliance gaps in crypto-related operations.
- Potential future restrictions due to increased oversight.
- Primarily serves institutional clients; limited retail offerings.
7. Evolve Bank & Trust
Founded in 1925 and headquartered in Memphis, Evolve provides banking infrastructure for fintechs and crypto firms. It piloted a Mastercard-backed program using USD-pegged stablecoins for card payments.
Pros:
- Allows unlimited USD transfers to FinCEN-regulated exchanges.
- Pilot program explores stablecoin-powered payment rails.
- Open banking APIs support crypto-native business models.
Cons:
- Under regulatory review for risk management practices.
- Suffered a cybersecurity breach in 2024, raising data security concerns.
- Does not offer direct crypto custody or wallet services.
8. Fifth Third Bank
A regional powerhouse since 1858, Fifth Third operates over 1,100 branches across 11 states. It allows customers to fund regulated crypto exchanges without daily or monthly caps.
Pros:
- Seamless transfers to licensed exchanges facilitate indirect crypto investing.
- Extensive branch network enhances accessibility for transaction management.
- No set limits on outgoing transfers related to digital asset platforms.
Cons:
- No native crypto trading, staking, or wallet integration.
- Minimal educational resources for new crypto users.
- Possible hidden fees or policy restrictions—users should verify terms.
9. Bank of America
One of the largest U.S. financial institutions, Bank of America enables account linking with regulated exchanges and plans to launch its own USD-backed stablecoin if legislation permits.
Pros:
- Proposed stablecoin could streamline digital transactions once approved.
- Massive infrastructure and customer base position it for rapid adoption.
- Strong regulatory alignment may enhance trust among institutional investors.
Cons:
- Blocks all credit card deposits to crypto platforms—only ACH or debit allowed.
- Regulatory uncertainty could delay or cancel stablecoin development.
- Future offerings likely limited to stablecoins, excluding broader crypto services.
10. USAA
Serving military members, veterans, and their families, USAA integrates with Coinbase to allow members to track crypto holdings directly through their banking dashboard.
Pros:
- Direct Coinbase integration enables real-time portfolio monitoring.
- Secure environment tailored for service members engaging with digital assets.
- No transfer limits to FinCEN-compliant exchanges.
Cons:
- No internal trading, buying, or custody capabilities.
- Dependency on Coinbase limits flexibility for users preferring other exchanges.
- Membership restricted to military-affiliated individuals—excludes general public.
Which U.S. Banks Are Not Crypto-Friendly?
Some major banks restrict crypto transactions due to concerns over fraud, volatility, and compliance:
- Chase Bank: Prohibits credit card purchases of crypto and monitors wires to exchanges closely.
- Discover: Blocks credit card transactions involving digital assets.
- Capital One: Explicitly prevents crypto buying via credit cards due to risk exposure.
- PNC Bank: Imposes restrictions citing fraud prevention and regulatory challenges.
These institutions prioritize risk mitigation over innovation, making them less suitable for active crypto investors.
Why Do Some U.S. Banks Restrict Crypto?
Despite growing regulatory clarity—such as proposed pro-crypto legislation under recent administrations—many banks remain cautious due to:
- Regulatory Compliance: Must follow strict AML/KYC rules enforced by FinCEN and federal agencies.
- Security Risks: Cryptocurrencies are often targeted by scams and illicit activities.
- Volatility & Lack of Insurance: Unlike traditional deposits, crypto holdings aren’t protected by FDIC insurance.
These factors lead banks to limit or block certain types of digital asset transactions.
What Is the Safest Cryptocurrency Exchange in the U.S.?
Kraken stands out as one of the most secure U.S.-based exchanges. Regulated by FinCEN (MSB Registration #31000270997766) and operating under Payward Interactive, Inc., Kraken emphasizes transparency and safety.
Key features:
- Over 95% of assets stored in offline cold storage.
- Mandatory two-factor authentication (2FA).
- Regular third-party security audits.
Available in most U.S. states (excluding NY, WA, and ME), Kraken supports spot trading, staking, and margin services—subject to state-specific rules.
👉 Explore secure exchanges where you can trade after funding from your bank.
Frequently Asked Questions (FAQ)
Q: Can I open a business account with a crypto-friendly bank?
A: Yes—banks like Mercury and Customers Bank specialize in serving crypto startups and blockchain businesses with tailored commercial accounts.
Q: Do crypto-friendly banks insure my cryptocurrency with FDIC protection?
A: No. FDIC insurance covers only fiat deposits (e.g., USD). Cryptocurrencies are not insured, even if held through a bank-integrated service.
Q: Are there fees when transferring money from my bank to a crypto exchange?
A: Most ACH transfers are free; wire transfers typically cost $25–$30. Always check your bank’s fee schedule before initiating large transfers.
Q: How do I safely store cryptocurrency bought through a bank-linked service?
A: For long-term security, transfer your assets to a self-custody wallet (hardware or non-custodial software). Avoid leaving large amounts on exchange platforms.
Q: Are all states treated equally by these banks?
A: No—some services like Quontic’s Bitcoin rewards or Kraken trading features are restricted in certain states due to local regulations.
Q: Can I earn yield or stake crypto through these banking platforms?
A: Rarely. Most banks don’t offer staking; platforms like Revolut provide limited rewards but lack full DeFi functionality.
Final Thoughts
Choosing the right bank depends on your goals: direct access to crypto markets or secure fiat on-ramps. For integrated experiences, Revolut and Cash App lead the pack. For traditional reliability with exchange access, Ally Bank and Mercury are solid choices. Always assess fees, supported assets, security measures, and eligibility before committing.
Regardless of your path, pairing a trusted financial institution with a secure exchange like Kraken ensures a balanced approach to navigating the evolving world of digital finance.