Best Crypto Friendly Banks
The best crypto friendly banks let you buy, sell, and keep cryptocurrencues. They often give people special wallets and accounts for their digital money so they can save it safely.
In this guide, we will take a look at some of the top crypto banks in Europe, USA and Asia.
Crypto Friendly Banks in Europe
In Europe’s market, numerous top banks are known for their support of cryptocurrencies in 2024.
Considering that rules within the European Union continue to shift and change, also remembering Brexit’s effect, we present our selection of prime crypto-supportive banks in Europe.
SEBA
SEBA is a bank from Switzerland, that started in 2019. It’s very friendly to cryptocurrency around the world.
The bank helps blockchain companies in Switzerland and other banks that work with crypto by offering trade services, loans for cryptocurrencies, and helping them manage their cash flow.
This service gives you a way to move regular money into digital currency through a banking system that is reliable and protected.
Even though it’s known as a hot wallet, it has many kinds of accounts and services for trading, purchasing, and selling various traditional currencies and cryptocurrencies like Ethereum, Polkadot, Tezos. It also includes insurance coverage options for NFTs among other features.
Bankera
Bankera, from Lithuania, offers a banking platform that combines regular bank features with cryptocurrency. They include their financial instrument called SpectroCoin, which comes as an integrated wallet for exchanging crypto.
Bankera allows individual users to deposit and withdraw traditional currency in relation to cryptocurrency trading platforms, at the same time offering companies a business IBAN for their payment services.
It’s a trustworthy instrument, but remember it isn’t a crypto-wallet because Bankera operates with regular money.
However, similar to others we’ve mentioned, they provide features that accommodate those who use cryptocurrencies, which makes it friendly for people involved with digital currencies.
Revolut
Established in 2015 in the UK, Revolut has grown into a banking choice that is much favored across Europe and around the world.
The app comes with included functions for buying Bitcoin, and it lets companies and their clients use crypto to make payments. This is why we consider it among the top DeFi wallets that are easy to use.
The charges differ depending on your location since this banking system is used worldwide. For more information, check their website please.
Best Crypto Friendly Banks in USA
The best cryptocurrency-friendly banks in the US offer a range of digital tools and services to facilitate cryptocurrency transactions, making it easier for customers to manage their financial assets.
If you are interested in cryptocurrencies, you can read about the best crypto influencers and find out all the news.
Ally-Bank
This is a comprehensive online bank in America, comparable to CHASE for its openness to crypto transactions.
Essentially, it’s an “ordinary” online bank but has developed numerous digital instruments allowing clients to conduct payments and exchanges with cryptocurrency.
You need to link your account with different cryptocurrency exchanges, yet it’s possible to handle all your digital currencies using the Ally account.
When you trade crypto, you pay the normal fees based on your chosen exchange platform; however, having an account with Ally Bank does not cost a monthly fee.
J.P. Morgan’s CHASE
Choosing this might bring debates because CHASE, in September 2023, stopped allowing crypto transactions in the UK. But in America, they stand out as a bank that greatly supports cryptocurrencies.
They say yes to payments and help exchange digital currencies like Bitcoin, Ethereum, Shiba Inu, XRP, Dogecoin Binance Coin Tether and USD Coin.
They have worked with FCF, a payment service started in Canada, and this partnership lets CHASE take crypto. Before that, they were just dealing with regular money transactions.
It is somewhat contradictory, we understand, but it appears to be a balanced approach for supporting cryptocurrency.
The charges for a CHASE bank account can change based on the kind of transaction and the currency you use to exchange your cryptocurrency. It relies on which platform you use to purchase your crypto. These charges can range from 0.1% to 2%.
The advantage of banking with J.P. Morgan’s CHASE Bank is that it is well-known and reliable. You can count on their adherence to rules and services for online banking, even though it concerns a hot wallet transaction system.
Quontic Bank
A bank from New York City, Quontic Bank, is on our list of crypto friendly banks in usa. It started to allow Bitcoin transactions in 2019 and offers a “Bitcoin cash-back” benefit where customers get back 1.5% for each transaction they do.
Quontic Bank works with the Bitcoin, Ethereum, and XRP blockchains. It is one of the top US Banks to work together with cryptocurrencies.
Patrick Sells, their CIO, strongly believes in how these digital assets will shape business-to-business transactions in the future.
He says that it has a lot of advantages like simple money transfer methods, cutting down on cash handling expenses, and facilitating international payments. He considers it as a global payment solution.
Quontic is a bank on the list that needs at least $100 to open an account. It also asks for you to make 10 or more debit card purchases, each must be $10 or higher every month; if not done, they charge a fee on the annual percentage yield (APY).
Crypto Friendly Banks in Asia
Asia has been at the forefront of embracing the cryptocurrency market and banks open to crypto, covering regions from the Far East to the Middle East.
This situation is quite distinct though, as government regulation and participation in Asian banking systems tend to be more intensive compared with what we observe in various other places.
This begs the question, how safe and secure are your digital assets here?
Here are a few of Asia’s friendliest crypto banks:
Mizuho Bank
Mizuho Bank, with its headquarters in Tokyo, is considered a reliable and stable bank within Asia. It serves as a trading platform for institutional investors and, offers services like lending products, managing assets, and has knowledge in tokenization.
Finding your way through the big Japanese bank might be somewhat puzzling for people not so much about digital money.
Some years ago, they brought out their own internet “money” known as J-Coin. J-Coin, it works not on blockchain technology; rather, the Japanese government made this move to advance their digital economy.
At the start of 2024, Mizuho Bank plans to launch a stablecoin into the market, which will be tied to a steady traditional currency such as the Yen or Dollar.
DBS
It is recognized as a very safe bank in Asia for regular banking and is the biggest bank in Southeast Asia.
The main office sits in Singapore, and it caught attention this last summer with news that it will start offering new services to its customers in mainland China about the digital yuan or e-CNY.
This caused a significant commotion and gave numerous companies fresh chances to purchase and trade goods throughout China and Asia.
With the DigiBank app, you can purchase, sell and exchange cryptocurrencies just by pressing a button. The cryptocurrencies that DBS Bank allows now include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Polkadot, and Cardano.
SBI Sumishin Net Bank
A well-known bank in Tokyo, which, like other important banks, provides safe and controlled holding services for digital assets.
This bank has to follow the rules set by the Financial Services Agency (FSA) and belongs to the Federation of Bankers Associations of Japan (FBAJ) group.
SBI Sumishin Net Bank supports USDT, USDC, and BUSD currencies. It should be noted that this bank does not keep the custody by itself; instead, it depends on another service to hold these assets.
What Are Crypto Friendly Banks?
Banking that supports cryptocurrency is a new type of financial planning. It aims to satisfy the special needs of the growing world of cryptocurrencies.
This method extends past normal banking by creating an adaptable link between regular finance and digital currency space.
These banks for cryptocurrency are doing more than just their job as middlemen for cryptocurrency dealings.
They provide specific services that cater to the desires of people who like cryptocurrencies, those investing in them, and companies, too.
Banks that are friendly to cryptocurrencies offer people ways to trade them and manage their secure wallets with advanced systems, helping users take part in the ever-changing cryptocurrency market well.
They play an important part in taking away the obstacles that stand between regular finance and digital money, encouraging a mutually beneficial connection.
To make an economic environment where old-fashioned and electronic monies exist together and enhance one another, this merging is essential.
Conclusion of Best Crypto Friendly Banks
To summarize, crypto friendly banks are starting to appear worldwide, connecting usual banking with the increasing field of digital money.
In Europe, for example SEBA and Bankera provide a wide range of services to people and companies dealing in cryptocurrencies.
Banks in the United States like Ally Bank, CHASE, and Quontic Bank make it easy to do transactions with cryptocurrency -. In Asia, Mizuho, DBS and SBI Sumishin Net Bank are creating new ways to handle digital assets.
These banks are very important because they help people to use the crypto market with confidence, and they support bringing new financial opportunities and ideas to everyone in the world.
FAQ About Crypto Friendly Banks
Which are the best crypto friendly banks❓
Revolut, Seba, Bankera, DBs.
Can I use my bank account to buy cryptocurrencies❓
Yes, many crypto-friendly banks allow you to link your account for buying and selling cryptocurrencies.
Are there any restrictions on crypto transactions with these banks❓
While policies vary, most crypto-friendly banks have guidelines to ensure compliance with regulations, like anti-money laundering laws.
Yes, some provide services such as custody for digital assets and even crypto-backed loans.
Can I receive payments from crypto exchanges in my bank account❓
Yes, many crypto-friendly banks facilitate deposits from crypto exchanges into your account.
Do crypto banks charge fees for crypto transactions❓
Fees can vary, but some crypto-friendly banks may impose fees for certain crypto-related transactions or services.
