Crypto-backed banks are gaining attention amid expectations of a Bitcoin ETF, accelerating their push for mainstream finance by 2026.

For cryptocurrency businesses and investors, reliable banking remains essential. While the ideal of Bitcoin (BTC) is "decentralization," traditional financial systems are necessary for asset management and liquidation in the real world. As 2026 approaches, interest in cryptocurrency-friendly banks is growing again.

The cryptocurrency industry has struggled to secure reliable banking partners following the successive closures of Silviagate and Signature Bank. Some traditional banks remain hostile, even closing individual accounts for simple transfers to cryptocurrency exchanges. However, some institutions are gradually shifting their stance, adopting a cautious approach to blockchain technology.

What is a cryptocurrency-friendly bank?

As the name suggests, "crypto-friendly banks" are financial institutions with a high level of understanding and acceptance of cryptocurrencies. They support the trading and storage of digital assets like Bitcoin and Ethereum (ETH), and are equipped with features that allow integration with exchanges like Binance and Kraken. Some banks even offer insurance for cryptocurrency portfolios or credit cards that offer up to 8% cashback on Bitcoin payments.

Pros and Cons: The Reality of Crypto Banking

The advantages are clear. Even beginners can easily trade cryptocurrencies through a familiar mobile app, and checking market prices and developing exit strategies (off-ramps) are easy. Some even offer automatic conversion of a portion of your monthly salary into Bitcoin or even a debit card that allows you to swap between fiat and cryptocurrency.

The issues are stability and fees. Integration with the cryptocurrency market is highly exposed to volatility. As seen in the Silviagate case, banks with high crypto exposure failed to withstand market declines and went bankrupt. Furthermore, transaction fees are often set high, at 1.5-2% for general users. Another limitation is the lack of implementation of advanced services like staking, lending, and farming, which are possible in decentralized finance (DeFi).

8 Crypto-Friendly Banks to Watch in 2026

1. Revolut

Mobile optimization and trading of over 50 cryptocurrencies are its strengths. Users can delegate Ethereum to third-party staking validators and receive up to 1% cashback when paying with cryptocurrency. However, the transaction fee is relatively high at 1.99%. The launch of its own cryptocurrency, Revcoin, is also planned.

2. Wirex

This financial platform was originally built around cryptocurrency. It supports trading in over 37 cryptocurrencies and boasts advanced features such as a cross-chain bridge, NFT wallet, and DeFi app integration. Users can also receive up to 8% cryptocurrency cashback with their check card.

3. Juno

It offers a functional account that integrates fiat and cryptocurrency, and its innovative feature that allows you to automatically convert a portion of your salary into cryptocurrency is attracting attention. The check card supports cryptocurrency withdrawals and ATM use, and also offers up to 5% cashback.

4. BankProv

With over 200 years of history, it's the oldest traditional bank in the United States and specializes in financial services for cryptocurrency startups. Deposits are double-insured by the FDIC and DIF, and it also offers cryptocurrency-backed loans and API tool support.

5. Ally Bank

While it doesn't support direct cryptocurrency trading, it does offer investment in cryptocurrency-related hedge funds like Grayscale Bitcoin Trust. Integration with Coinbase provides a convenient operating environment for customers.

6. Quontic

This is an example of combining traditional finance with cryptocurrency rewards. A key feature is the provision of a Bitcoin rewards-based checking account, which earns a 1.5% Bitcoin reward on all card purchases.

7. Mercury

Designed primarily for Web3 businesses, the platform boasts expanded FDIC insurance coverage of up to $5 million (approximately KRW 7.2125 billion). It has partnerships with renowned projects such as Phantom Wallet, Rarible, and Bitwise.

8. Monzo

This UK-based digital bank boasts easy account opening and fast deposits and withdrawals. However, Binance-related transfers are currently blocked following a warning from the Financial Conduct Authority (FCA).

Why Cryptocurrency Banks Are on the Rise

As the industry rapidly expands, fueled by anticipation of Bitcoin ETF approval, financial institutions are rapidly embracing crypto. Banks that fail to adapt are likely to be left behind. Meanwhile, JP Morgan's Jamie Dimon maintains a negative stance, stating, "If it were the government, they would shut down Bitcoin."

But the key is sovereignty

Crypto-friendly banks contribute to the industry's expansion, but they struggle to replace the "complete control over assets" offered by DeFi. The fundamental principle of "not my keys, not my coins" still holds true.

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This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.

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