Best Crypto-Friendly Banks in the USA

What Are Crypto-Friendly Banks?

Crypto-friendly banks in the United States are traditional banks that facilitate customers' interactions with digital assets such as Bitcoin and Ethereum. This support manifests in two primary models:​

• Integrated Crypto Services: These banks enable clients to buy, sell, and hold cryptocurrencies directly through their banking platforms. 
• Banks Supporting Transfers to Exchanges: While not offering direct crypto trading services, these banks permit USD transfers to and from FinCEN-regulated crypto exchanges in the USA. 

Both types of banks provide secure methods to acquire digital assets, upholding stringent financial regulations and safeguarding customer interests.

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Top Crypto-Friendly Banks in the United States 

1. Revolut

Revolut was founded in 2015 and has quickly grown into a prominent fintech provider, making substantial strides in the U.S. market. It offers a versatile financial platform that integrates traditional banking services, currency exchange, and crypto investments. It operates as a Money Services Business (MSB) and is fully compliant and regulated by FinCEN.

Pros:

• Revolut operates as a bank in the U.S. through Lead Bank, a member of the Federal Deposit Insurance Corporation (FDIC) and as a crypto exchange through Revolut Wealth Inc., an SEC-registered investment advisor.
• Users benefit from integrated currency management, enabling instant transfers between USD and cryptocurrencies like Tether and Solana directly within the app.
• Supports a diverse selection of over 200 cryptocurrencies, offering an experience comparable to specialized crypto exchanges. 

Cons:

• Cryptocurrency trading fees can be relatively high, ranging between 1.49% and 0.49%, depending on the subscription plan (Standard, Premium, or Metal). Additional monthly fees ($0 for Standard, $9.99 for Premium, and $16.99 for Metal) apply.
• It lacks advanced features that sophisticated crypto traders typically expect, such as derivatives trading, extensive analytics, and staking rewards.
• Limited ability to withdraw cryptocurrencies to external wallets; currently, only select digital assets can be transferred out, potentially restricting full asset ownership for some investors.

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2. ‍Ally Bank

Ally Bank, a financial institution founded in 2009, gives customers convenient online banking and investment solutions. Ally Invest, its brokerage arm, doesn't currently support direct cryptocurrency purchases but provides indirect crypto exposure through specialized financial products like crypto trusts, Bitcoin futures ETFs, and publicly traded crypto-related stocks. 

Pros

• Ally Bank facilitates transfers between customers' bank accounts and external crypto exchanges, enabling convenient entry into crypto investing.
• Through Ally Invest, customers can access indirect crypto investments like Bitcoin futures ETFs, crypto trusts, and crypto-focused stocks without the complexity of managing private wallets or direct crypto holdings.
• As an FDIC-insured institution, Ally provides the security and reliability associated with traditional banking while still allowing exposure to digital asset markets.

Cons

• Ally does not support direct cryptocurrency trading or wallet management, limiting customers to indirect crypto investments.
• Cryptocurrency products offered through Ally Invest, such as futures and trusts, carry higher complexity and potentially additional fees, which may deter less experienced investors.
• The absence of direct crypto custody services means customers do not have full control over their digital assets, preventing direct participation in blockchain-based activities like staking or decentralized finance (DeFi).

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3. Mercury

​Mercury is a financial technology company founded in 2017 that offers online banking services tailored for startups and small to medium-sized businesses. Partnering with FDIC-insured institutions, it provides business checking and savings accounts. While the bank does not currently support digital currency investment directly, it facilitates fiat transactions to regulated crypto exchanges.

Pros

• Mercury specializes in serving cryptocurrency and blockchain-focused businesses, offering streamlined account setups explicitly designed for the needs of crypto startups.
• Clients can effortlessly perform fiat transactions, including quick wire transfers to major cryptocurrency exchanges such as Coinbase or Gemini.
• Mercury provides flexible virtual and physical debit cards with customizable spending limits, allowing users to invest in crypto with zero restrictions.

Cons

• Mercury accounts only hold fiat currencies, with no capability to store cryptocurrencies directly, limiting flexibility for those seeking integrated custody solutions.
• The platform does not currently offer direct cryptocurrency trading, investments, or staking services, potentially requiring businesses to manage these activities separately on external platforms.
• Being a fintech company rather than an FDIC-insured bank itself, Mercury's banking services are reliant on third-party FDIC-insured institutions, potentially adding complexity or perceived uncertainty for clients seeking direct institutional relationships.

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4. Quontic

​Quontic, established in 2009 and headquartered in New York, is a digital bank recognized for its innovative approach to personal banking and mortgage solutions. Although it does not offer direct crypto investment, the bank supports transfers to regulated exchanges. In 2020, the bank launched the Bitcoin Rewards Checking account, providing 1.5% back in BTC on eligible card purchases.

Pros

• Quontic offers the first FDIC-insured Bitcoin Rewards Checking account in the U.S., allowing customers to effortlessly earn 1.5% back on debit card purchases.
• The bank has established a presence in the metaverse by opening an outpost in Decentraland. This virtual location allows users to explore Quontic's offerings, acquire exclusive NFTs, and engage with other visitors.
• Quontic partners with NYDIG, ensuring that Bitcoin rewards are securely managed and providing customers with peace of mind through institutional-grade custody solutions.

Cons

• Bitcoin Rewards Checking accounts are currently available only to residents in select states, significantly limiting accessibility for users nationwide.
• Quontic does not support direct cryptocurrency holdings or trading services within its accounts, meaning customers must rely on external digital asset exchanges.
• Redeeming Bitcoin rewards into U.S. dollars involves additional fees charged by Quontic’s custody partner, potentially reducing the overall value of accumulated crypto rewards.

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5. Cash App

​Cash App, developed by Block, Inc. (formerly Square, Inc.), is a versatile mobile payment service that enables users to send and receive money, make direct deposits, invest in stocks, and trade crypto. Serving over 20 million users, Cash App enables individuals to invest in Bitcoin starting from just $1, fully own their assets, and even automate regular purchases. 

Pros

• Users can convert spare change into Bitcoin through the "Round Ups" feature linked to the Cash App Card, a prepaid debit card provided by Sutton Bank, Member FDIC.
• To safeguard user assets, Cash App stores most BTC holdings offline in cold storage, ensuring robust protection against online security threats.
• Allows users to buy Bitcoin easily, starting with as little as $1, making crypto investing accessible to beginners.

Cons

• Currently supports only one crypto asset, restricting users who want access to a broader range of cryptocurrencies.
• Does not offer advanced trading tools, staking, or futures trading, limiting its appeal to more experienced crypto investors.
• Extremely high investment fees start at 3% for purchases up to $10 and decrease to 0.75% for transactions above $5,000.

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6. Customers Bank

​Customers Bank, based in Pennsylvania, is a financial institution known for its unique approach to banking services. The bank offers a blockchain-based payments platform called Customers Bank Instant Token (CBIT), which enables clients to make USD payments 24/7. This service has attracted numerous digital asset firms, including cryptocurrency exchanges and stablecoin issuers.

Pros

• Customers Bank offers the blockchain-based Customers Bank Instant Token (CBIT), enabling 24/7 USD transfers and real-time settlements beneficial to cryptocurrency firms.
• It actively partners with major cryptocurrency exchanges and stablecoin issuers, positioning itself as a supportive financial partner for digital asset companies.
• The bank does not impose any transfer limits to crypto exchanges, allowing users to send unlimited funds to regulated platforms.

Cons

• Recent regulatory scrutiny from the Federal Reserve identified weaknesses in Customers Bank’s compliance practices concerning crypto-related transactions, raising potential reliability concerns.
• Enhanced regulatory oversight could lead to tighter restrictions on digital asset transactions or account accessibility, limiting flexibility for crypto-focused businesses.
• Customers Bank's services mainly support institutional and corporate crypto activities, offering fewer options specifically tailored toward individual retail crypto investors.

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7. Evolve Bank & Trust

Evolve Bank & Trust, established in 1925 and headquartered in Memphis, Tennessee, is a financial institution offering various services, including personal and business banking, mortgage solutions, and lending services. In 2021, the bank collaborated with Mastercard to pilot a program aimed at simplifying cryptocurrency card transactions using a U.S. dollar-backed stablecoin. 

Pros

• The bank allows customers to send and receive USD from crypto exchanges regulated by the FinCEN with zero transfer limits.
• Evolve collaborated with Mastercard on a pilot program designed to streamline cryptocurrency payments through cards backed by U.S. dollar stablecoins.
• Its open banking solutions provide an infrastructure for crypto-focused businesses to offer financial services with greater ease and flexibility.

Cons

• The bank recently faced regulatory challenges, including scrutiny from the Federal Reserve concerning compliance and risk management practices, potentially impacting the reliability of its crypto-related services.
• A cybersecurity breach in 2024 raised concerns regarding data protection and security practices, an issue particularly sensitive for crypto customers.
• Evolve Bank & Trust does not directly provide crypto custody, trading, or wallet services, limiting its appeal for customers.

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8. Fifth Third Bank

​Fifth Third Bank, established in 1858 and headquartered in Cincinnati, Ohio, is a regional financial institution operating approximately 1,100 branches and 2,400 ATMs across 11 states. While the bank does not provide direct cryptocurrency trading services, it permits customers to engage with regulated third-party crypto exchanges by facilitating fund transfers from their accounts.

Pros

• Fifth Third Bank enables customers to transfer funds to regulated cryptocurrency exchanges, facilitating indirect crypto investing.
• Its widespread presence, with over 1,100 branches across multiple states, provides customers with extensive access and convenience when managing transactions linked to crypto platforms.
• The bank does not impose any daily or monthly limits on transfers to digital asset platforms.

Cons

• The bank does not directly support cryptocurrency trading, custody, or wallets, which restricts customers looking for integrated crypto banking services.
• Limited explicit crypto-related services or educational resources may challenge clients new to digital assets who need additional guidance or support.
• Potential fees or restrictions for crypto-related transactions could apply, and users should verify any policies associated with using Fifth Third accounts for crypto activities.

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9. Bank of America

Bank of America, founded in 1904 and headquartered in Charlotte, North Carolina, ranks among the largest financial institutions in the USA. While BoA does not offer direct crypto trading or custodial services, it permits customers to link their accounts with regulated exchanges. The bank has also indicated it would launch its own U.S. dollar-backed stablecoin.

Pros

• Bank of America plans to launch its own dollar-backed stablecoin if legislation passes, potentially facilitating effortless digital asset transactions.
• Its existing infrastructure and extensive customer base could enable rapid adoption and integration of crypto-related financial services once regulatory clarity is established.
• Clear backing from the Trump administration and favorable regulatory developments may position Bank of America as a trusted entry point for institutional and retail investors.

Cons

• BoA blocks all credit card deposits to digital asset exchanges and only allows ACH transfers or debit card transactions.
• Ongoing regulatory uncertainties could delay or significantly limit the bank's stablecoin project, affecting its competitiveness compared to banks already established in crypto-related services.
• Potential future offerings appear limited primarily to stablecoins, possibly excluding broader crypto services such as direct Ethereum trading, staking, or futures.

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10. USAA

​The United Services Automobile Association (USAA) is a diversified financial services group headquartered in San Antonio, Texas, primarily serving U.S. military members, veterans, and their families. The bank has integrated cryptocurrency management into its platform, allowing members to connect their accounts with Coinbase for seamless digital asset tracking.

Pros

• USAA provides integrated account linking with Coinbase, enabling members to effortlessly monitor their cryptocurrency investments directly through the banking platform.
• The bank specifically tailors financial services to military personnel and their families, offering a reliable and secure environment for crypto-related activities.
• There are no transfer limits imposed to digital currency investment platforms regulated by the FinCEN.

Cons

• USAA does not offer direct cryptocurrency trading, purchases, or custody services, restricting full functionality for members seeking comprehensive crypto banking.
• Access to cryptocurrency features relies exclusively on integration with Coinbase, limiting customers who prefer other exchanges or multiple exchange integration options.
• Its exclusive eligibility criteria, limited to military members, veterans, and their immediate families, restrict general public access, limiting broader availability as a crypto-friendly banking option.

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Which American Banks are not Crypto-Friendly?

​In the United States, certain banks have adopted restrictive policies toward crypto transactions, citing concerns over fraud, security, and regulatory compliance. Key examples include:​

• Chase Bank: Blocks crypto purchases using its credit cards and closely monitors wire transfers to cryptocurrency exchanges.
• Discover: Has implemented policies that prevent the use of its credit cards for buying cryptocurrencies.
• Capital One: Explicitly blocks cryptocurrency purchases through its credit cards, highlighting concerns about volatility, customer debt risk, and susceptibility to fraudulent activity.
• PNC Bank: Implements restrictive measures on transactions linked to crypto exchanges, citing fraud protection and regulatory compliance as primary reasons for limiting customer exposure to digital assets. ​

These institutions prioritize customer security and adhere to regulatory frameworks by limiting or prohibiting crypto-related transactions, positioning themselves as less accommodating to cryptocurrency platforms.

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Why do U.S. Banks Block Crypto Transactions?

Despite recent pro-crypto policies introduced during the Trump administration aimed at clarifying regulations and encouraging crypto adoption, many banks in the United States continue to restrict or block cryptocurrency transactions. This is primarily due to concerns surrounding financial security, customer protection, and regulatory compliance. 

Given cryptocurrencies' limited oversight and high susceptibility to fraud, scams, and illicit activities, US banks adopt cautious policies to minimize these risks. Additionally, banks must adhere to strict federal regulations, including Anti-Money Laundering (AML) rules and Know Your Customer (KYC) guidelines set by agencies such as the Financial Crimes Enforcement Network (FinCEN). 

The volatile and speculative nature of cryptocurrencies, coupled with the absence of protective measures like FDIC insurance coverage for crypto assets, further motivates US financial institutions to implement tighter controls or outright restrictions on crypto-related transactions.

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What is the Safest Crypto Exchange in the USA?

Kraken is one of the safest cryptocurrency exchanges in the United States, largely due to its rigorous security measures, comprehensive regulatory compliance, and transparent operational standards. Managed domestically by Payward Interactive, Inc., Kraken holds a Money Services Business (MSB) registration with FinCEN (Registration No. 31000270997766). 

Kraken’s advanced security framework includes secure offline cold storage, mandatory two-factor authentication, and regular third-party security assessments. While it supports most U.S. states, its services currently exclude residents from Maine, New York, and Washington state, with specific restrictions for activities such as staking and margin trading, varying by state. 

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Final Thoughts

Choosing a crypto-friendly bank in the U.S. depends heavily on your specific financial needs and comfort with digital currencies. If you prioritize integrated services and direct crypto management, providers like Revolut or Cash App offer user-friendly platforms, while banks such as Ally or Mercury suit those seeking indirect exposure with traditional banking support.