Looking for a Crypto-Friendly Bank? Here Are the Top Picks
If you’ve ever tried to open a bank account while dealing with crypto—whether for personal investing or running a blockchain-related business—you probably already know the frustration. Many traditional banks still see cryptocurrency as a risky venture, making it hard for crypto holders to find reliable financial partners. But as digital assets go more mainstream, the demand for crypto-friendly banks is growing fast.
The financial world is catching up. Today, banks and neobanks alike are beginning to embrace digital currencies, integrating crypto services like wallet support, crypto-to-fiat conversion, and direct exchange access. Whether you’re a casual investor or a startup founder building the next DeFi protocol, having the right banking partner can make or break your operations.
In this post, we’ll explore what makes a bank truly crypto-friendly, then dive into the top institutions—both traditional and digital—that are making it easier to bridge the gap between fiat and crypto. By the end, you’ll know which banks are leading the charge and how to choose the best one for your needs.
What Makes a Bank Crypto-Friendly?
Before naming names, it’s worth clarifying what qualifies a bank as “crypto-friendly.” This term isn’t just about allowing wire transfers to exchanges. It covers a range of services and policies that accommodate the needs of cryptocurrency users and businesses. At a minimum, a crypto-friendly bank won’t flag or block transactions related to Bitcoin, Ethereum, or other digital assets. But the best go further.
Some offer crypto wallets directly through their platforms. Others partner with exchanges to enable instant crypto purchases or allow you to hold both fiat and crypto balances in a single interface. A few even provide lending or savings options backed by crypto collateral. These features are increasingly important for startups and freelancers operating in the crypto space, who often need access to both traditional financial tools and blockchain-based networks.
Then there’s the regulatory piece. A crypto-friendly bank must be transparent about compliance, offering clear guidance on how they handle KYC (Know Your Customer), AML (Anti-Money Laundering), and any reporting requirements for crypto-related funds. The best banks don’t just tolerate crypto—they actively support innovation while staying within the bounds of legal compliance.
Silvergate Bank: Once a Giant, Now a Cautionary Tale
No discussion of crypto banking would be complete without mentioning Silvergate. Based in California, Silvergate was once the go-to institution for crypto exchanges and blockchain businesses. With clients like Coinbase, Kraken, and Gemini, it provided critical infrastructure through its Silvergate Exchange Network (SEN), allowing near-instant USD transfers between crypto platforms.
However, in 2023, Silvergate’s exposure to the FTX collapse and increasing regulatory scrutiny led to its voluntary liquidation. While it no longer operates, its story remains important. Silvergate showed that demand for crypto-integrated banking is real—but also that risk management and transparency are key.
The fall of Silvergate was a wake-up call for investors and startups alike: not all crypto-friendly banks are created equal. The ideal choice should balance crypto innovation with robust financial controls. Fortunately, several newer players are stepping into the void and learning from past mistakes.
Revolut: A Fintech Favorite With Growing Crypto Features
Revolut has steadily become a favorite among global users looking to blend traditional and digital finance. Based in the UK, this mobile-first neobank offers crypto trading for dozens of coins, alongside fiat services like debit cards, savings accounts, and currency exchange. Revolut’s crypto services aren’t just bolt-ons—they’re integrated directly into the same app where users manage their daily spending.
While Revolut doesn’t yet offer private wallet withdrawals for all users, it does provide a seamless onboarding experience for those dipping their toes into crypto for the first time. And with plans to expand its crypto offerings and apply for a UK banking license, it’s only becoming more attractive to tech-savvy users.
Businesses won’t find the same depth of service here that they might with a dedicated business crypto bank, but for individuals—especially remote workers or casual investors—Revolut offers a solid middle ground between fintech convenience and crypto accessibility.
Mercury: A Sleek Option for Crypto Startups in the U.S.
Mercury is a U.S.-based fintech bank that’s earned the trust of thousands of startups—and that includes many in the crypto and Web3 space. While Mercury doesn’t directly hold or manage crypto, it’s one of the few digital banking platforms that openly welcomes crypto-related businesses, including those involved in blockchain infrastructure, NFT marketplaces, and decentralized finance.
Its interface is clean, modern, and built with tech founders in mind. You can set up FDIC-insured accounts, manage team permissions, and issue virtual cards—all from a single dashboard. What makes Mercury truly crypto-friendly is its permissive stance on crypto revenue, clear communication with founders, and lack of friction when moving funds to and from exchanges like Coinbase or Binance.US.
Although not a crypto custodian, Mercury stands out because it supports the operational needs of blockchain startups. That’s a big deal in a world where many banks won’t even let crypto founders open an account.
BankProv: A Traditional Bank That Embraces Innovation
BankProv (formerly The Provident Bank) is one of the oldest banks in the U.S., but it’s also among the most forward-thinking when it comes to crypto. This Massachusetts-based institution provides business banking services tailored to crypto companies, including lending products, crypto-collateralized loans, and real-time payment options.
BankProv stands out for its willingness to bank businesses that many traditional financial institutions shy away from—like miners, exchanges, and DeFi protocol developers. It also integrates API support for tech-enabled treasury management, making it ideal for firms operating at scale.
Unlike many newer fintechs, BankProv brings deep experience in compliance and regulatory oversight. For startups looking for a banking partner that can handle crypto volatility while maintaining a solid financial foundation, BankProv offers one of the best blends of old-school banking stability and crypto-forward vision.
Swissquote: Europe’s Leader in Crypto-Integrated Banking
Swissquote is a fully licensed Swiss bank and a leader in digital asset integration. It offers crypto trading directly through its banking interface, including Bitcoin, Ethereum, and over 25 other tokens. For users in Europe, Swissquote delivers the kind of full-service crypto banking that’s often lacking elsewhere.
More than just a trading interface, Swissquote provides custody solutions, real-time pricing data, and portfolio management tools. It’s built for serious investors, and it supports both retail and institutional clients. Security is another high point—Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority), and it adheres to some of the strictest banking standards in the world.
If you’re a European investor or business owner looking for a secure and compliant bank that actively supports crypto, Swissquote deserves strong consideration. It’s proof that traditional institutions can innovate without sacrificing trust.
Choosing the Right Crypto-Friendly Bank for Your Needs
Not every crypto user needs the same level of banking support. A casual investor might just want easy on-ramp access to exchanges, while a startup founder needs banking that integrates with smart contracts, token vesting, or crypto payroll.
Start by clarifying your needs. If you’re an individual user, look for features like crypto debit cards, wallet support, or low exchange fees. If you’re a business, focus on compliance-friendly options that won’t freeze your funds or limit your transaction types. The banks mentioned above span both ends of the spectrum—from user-friendly apps like Revolut to enterprise-ready platforms like BankProv.
Keep in mind that crypto regulations vary by country, and some banks only serve specific jurisdictions. Always verify whether a bank supports your region before starting an application. Read reviews, speak with other crypto users, and don’t hesitate to contact the bank directly if you have questions about their crypto policies.
As the line between traditional and decentralized finance continues to blur, the ability to move seamlessly between fiat and crypto becomes a major competitive advantage—for individuals and companies alike.
Conclusion
The search for a crypto-friendly bank no longer feels like a fringe pursuit. It’s becoming a necessity for millions of people and businesses navigating the digital economy. Whether you’re managing a wallet full of Bitcoin or building the next DeFi app, your banking partner should help you, not hold you back.
From fintech disruptors like Revolut and Mercury to regulatory-compliant veterans like Swissquote and BankProv, the market is maturing. These institutions are proving that it’s possible to combine security, convenience, and crypto innovation under one roof.
Now’s the time to align your financial infrastructure with your crypto future. Do your homework, pick a bank that fits your needs, and make the most of the tools that are finally catching up to the blockchain revolution.