Crypto banks are on the rise as more people discover crypto. In fact, the demand for crypto-related financial services will likely increase in the near future, and financial institutions will need to work to fill this need. There are many platforms purely dedicated to crypto, but there are also many traditional banks integrating crypto services into their platforms to satisfy their users’ requests.
Let’s go over five of the top crypto banks to watch:
5 crypto banks in the U.S. and Europe
1. BankProv
Formerly known as Provident Bank, BankProv is one of the most crypto-friendly banks in the U.S., especially for businesses. The dedicated cryptocurrency tab on their website offers API banking, insurance on all deposits, and crypto-backed loans.
In 2021, Bank Prov added two new services that make it one of the best crypto banks: Ethereum-backed crypto loans and a 24/7 payments platform called ProvXchange, which facilitates real-time payments between clients no matter when the payment is made.
2. Juno
Juno has parnered with ZenGo to offer a secure wallet for Juno users to store their crypto. Through their partnership they offer a $50 BTC or ETH bonus (via the referral code ZENGO) to customers who set up their ZenGo wallet with Juno and receive their first direct deposit of at least $250 or more. Juno make liquidating crypto assets painless as crypto cashouts arrive instantly in your Juno checking account. Juno also offers competitive international money transfer service that’s powered by Wise. Supporting almost-instant (~5 minutes) to 30+ various countries. Juno is an all-around great option if you are looking for an online-only banking service that makes it simple to manage your cash and crypto assets all in one place.
3. Ally Bank
https://www.ally.com/Ally is an entirely digital bank that has made moves to be more crypto-friendly. While you can’t buy crypto directly on the platform, users can connect their Ally account to their Coinbase account and then use their Ally debit or credit card to purchase crypto. Ally also supports crypto transactions via wire transfer. 2
4. USAA
https://www.usaa.com/Similar to Ally, USAA’s crypto banking services allow users to integrate their Coinbase account. While users can’t make transactions, they can monitor their crypto transactions and display their account balances alongside their USAA accounts in the USAA app or website.
5. U.S. Bank
https://www.usbank.com/index.html
While not as crypto-friendly as the other banks on this list, U.S. Bank has recently made some moves indicating that it’s looking more towards crypto in the future.
In late 2021, the bank announced it was adding crypto custody services for institutional investment managers looking to keep their Bitcoin secure. It seems that U.S. Bank has expanded its support to other coins in the future, so other crypto services could likely be in store.
The future of crypto banking
Crypto banking will be an industry to watch in the future as more people require crypto financial services. Companies that have already made an effort to show that they are crypto-friendly are ahead of the game by preparing for a future where owning digital currency will become mainstream.
About the Author
Michael Hearne
About Decentral Publishing
Decentral Publishing is dedicated to producing content through our blog, eBooks, and docu-series to help our readers deepen their knowledge of cryptocurrency and related topics. Do you have a fresh perspective or any other topics worth discussing? Keep the conversation going with us online at: Facebook, Twitter, Instagram, and LinkedIn.
