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Undoubtedly, the emergence of blockchain technology, and its scion cryptocurrency, has altered traditional banking as we knew it. Increasingly, customers have embraced digital assets, forcing banks to adopt a crypto-friendly approach to remain relevant.

However, clients face the ominous challenge of identifying crypto-friendly banks to satisfy their peculiar needs. So, in this article, we will look at the best crypto-friendly banks in the US worldwide to help you navigate the hazy terrain and possibly save your time.

Crypto-Friendly Banks- Introduction

Since the innovation of Bitcoin, financial regulators across the globe have been very eclectic on the adoption and usage of cryptocurrency. Specifically, they have repeatedly failed to provide a clear roadmap that will enable banks to hold cryptocurrencies for retail and institutional investors. Ditto, some banks perceive these assets as too toxic for their portfolios. Notwithstanding, a few have forayed into the murky waters, earning the tag crypto-friendly banks.

Due to the peer pressure and the fear of missing out(F.O.M.O), US banks are now asking for Bitcoin. Reason? They can see the data. Moreover, numbers do not lie! Their customers check dollars and send them to crypto exchanges such as Kraken and Coinbase. To remain relevant, they have reconfigured their systems to facilitate fiat currency exchange to crypto and vice versa. Similarly, they have tried to keep the transfer transaction costs at a bare minimum. So, let us look at these crypto-friendly banks United States worldwide.

Crypto-Friendly Banks in the US

Here are some of the best crypto-friendly banks in the US:

1.BankProv

BankProv - Crypto-Friendly Banks in the US

If you are looking for a crypto-friendly bank that provides full-service USD banking products, you are right. The bank has a broad spectrum of payment solutions to help you or your business leverage the merits of crypto. Importantly, all you deposit in this bank, whether fiat or crypto, is fully insured by the Deposit Insurance Fund and the Federal Deposit Insurance Corporation.

BankProv has a rapidly expanding specialty lending desk to meet the needs of crypto enthusiasts and other special cases. The crypto-lending line of credit is backed by ether and seeks to provide a full-service offering to the crypto community. Additionally, the bank provides secure cash vault services by partnering with leading crypto-friendly armored couriers. Finally, you can access your money faster using the available Bitcoin ATMs. 

With its crypto banking team, you can easily navigate the banking process without hassling too much. The dedicated team will also help your business trajectory journey. Above all, the bank’s advanced API technology makes the banking process seamless, intuitive, and convenient for even new users in the cryosphere.

2. Goldman Sachs

Goldman Sachs

Goldman Sachs is not a newbie in the banking industry. It is a leading wall street bank and a global behemoth. The bank has now adopted crypto banking from outrightly rejecting crypto, even going ahead to execute an over-the-counter crypto transaction. The move is a positive move in developing a crypto market for institutional investors.

Moreover, the bank has a trading desk for cryptocurrencies. The financial giant provides a Bitcoin futures trading product through a partnership with Galaxy Digital, which augments its trading desk. Currently, the bank offers its clients access to Ethereum funds through its partnership with Galaxy Digital with a minimal funding of $250,000

3. Chase

JP Morgan Chase

JP Morgan Chase is a multinational investment serving retail and institutional clients. It entered the annals of banking history by being the first global bank to use blockchain technology to design a network that facilitates immediate payments. By unveiling the JPM coin, Chase facilitates real-time value movement to expedite cross-border payments. So, why does Chase feature in our list of best crypto-friendly banks? Because it allows users to connect to Gemini and Coinbase, exchanges regulated in the US. Therefore, US users of these exchanges have access to deposits and withdrawal services via Automated Clearing House (ACH) transactions and wire transfers. Equally, the exchanges are also benefitting from cash management services. 

In addition, the global bank has a passively managed in-house Bitcoin fund through a partnership with investment firm New York Digital Investment Group (NYDIG) to serve its wealthy customers. Furthermore, in august 2021, the bank opened access to five other crypto funds that provide users with wealth management platforms, such as the self-directed Chase trading app.

Crypto-Friendly Banks Worldwide

1. Ally

All

Ally is an online bank without a physical location. So, if you are searching for the top crypto-friendly banks United states, you will likely find them on the list. Notably, apart from offering services such as auto financing, online saving account, and interest checking account, the digital bank provides easy integration with Coinbase. Interestingly, its interest checking account does not have monthly maintenance fees. Also, banking services are available 24/7 to give you the convenience you deserve.

2. Revolut

Revolut | Crypto-Friendly Banks Worldwide

Though originally a UK bank, Revolut has spread its tentacles to cover certain areas of Europe, such as Spain, France, and Ireland. Essentially, it is an app that you can download on your device and use to perform your banking tasks. That is why we think is one of the best crypto-friendly banks. Apart from the intuitiveness and ease of use, the app comes with an ingrained cryptocurrency exchange. Importantly, you can use the app to buy, sell and send crypto with a simple touch of a button. Furthermore, the bank does not charge any hidden fee for the services offered.

Using the app, you can buy/sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), AAVE (AAVE), Polygon (MATIC), Chainlink (LINK), and Litecoin (LTC), with more digital assets due to be supported. Recently, Revolut partnered with Allianz Partners as its global services partner. Through the arrangement, this platform’s Premium and Metal account holders will access comprehensive travel insurance services. This will benefit crypto holders who are only eligible to hold these accounts.

3. Wirex

Crypto-Friendly Banks

For a start, Wirex is not your ordinary type of bank but is one of the best crypto-friendly banks. It is a digital payments company with a robust wallet application. The app comes with cutting-edge MasterCard payment options to facilitate routine purchases in fiat currency and cryptocurrency. The dynamic wallet app allows users to enjoy borderless access to multiple currencies and digital assets. With the wallet, you can easily send and receive money Via cards. Importantly, debit card payments and SEPA/SWIFT transfers are free. Also, the app does not charge monthly fees. It also has a payment card that facilitates real-time point of sale conversion. For the exchange of forex, the charges are zero. Moreover, you can access up to 2% cryptocurrency rewards on all your spending using the card.

Wirex has an international appeal because it is available in more than 130 countries. You can use the wallet anywhere. Mastercard has a footprint. You do not have to worry about security because Wirex is not only licensed by the FCA as a money issuer but is also PCI DSS Level 1-certified. Unlike other wallets that rely on seed phrases and private keys, Wirex relies on biometrics for access.

Related articles: How to Withdraw Money from Robinhood | How to Buy Bitcoin with Credit Card

Crypto-Friendly Banks – Conclusion

As cryptocurrencies gain universal acceptance, the urge to get the best crypto-friendly banks keeps growing. We have taken the time to compile crypto-friendly banks united states and worldwide to save your time. Do your research on these bans and save/invest wisely.

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Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.