As demand for digital assets rises, many financial institutions offer services like crypto custodianship or enable crypto purchases through bank accounts. However, they remain cautious about the risks of trading high-risk and volatile assets and will likely continue restricting crypto transactions to authorized, regulated exchanges for greater security and compliance. Here is a list of our six best crypto-friendly business banks.
The table below reflects the top factors we evaluated for the five best crypto-friendly business banks.
Our rating: 4.34 out of 5
Catering to crypto startups and web3 companies, Mercury is a fintech with a comprehensive understanding of blockchain-based firms. You can simplify your financial management with its advanced tech features, such as automated accounting, risk-management tools, and customizable user access. Its business banking solution includes a fee-free business checking account with unlimited transactions and no monthly fees.
Learn if Mercury suits your company by reading our Mercury Bank review for details on pricing structure and key features.
Mercury is my top pick for crypto startups or Web3 companies seeking a seamless banking experience. It is our overall best for crypto-friendly banks since its business checking account simplifies financial management, allowing easy transfers to crypto exchanges, recurring payments, and receipt uploads within the app.
While you can’t hold crypto in your Mercury account, you can buy crypto without restrictions. Sending wire transfers to major exchanges like Gemini and Coinbase is also straightforward, with your business name appearing as the sender. This makes your crypto transactions process smooth and efficient.
| Pros | Cons |
|---|---|
| Unlimited transactions and no monthly fees for Mercury business checking. | No cash deposit support. |
| No restrictions for crypto purchases. | Cannot open sole proprietorship and trust accounts. |
| FDIC insurance coverage of up to $5 million . | Checking and savings accounts are non-interest bearing. |
Our rating: 4.32 out of 5
U.S. Bank is a traditional bank offering cryptocurrency custody for institutional investors. It has three regular business checking accounts, a nonprofit checking account, and an analyzed checking account. As a full-service bank, it provides merchant and cash management services and a solid selection of lending products and high-yield business money market accounts.
Read our U.S. Bank business checking review for more information on fees and features.
I included U.S. Bank in our list of the best crypto-friendly banks since it meets the unique custody needs of institutional investors looking for a reliable bank that complies with banking regulations to protect their crypto assets. Clients no longer need to split their portfolios across multiple custodians– U.S. Bank allows you to manage crypto, cash, and traditional securities all in one place.
If you have a small business, you can apply for U.S. Bank’s Silver Business Checking account, which comes with no monthly fees and a 125 fee-free transaction allowance each month. Plus, you can earn up to $900 when you open a new, eligible business checking account online (promo code: Q1AFL25) and complete qualifying activities. The offer is valid through March 31, 2025. Member FDIC.
| Pros | Cons |
|---|---|
| Welcome bonus of up to $900 | Minimal interest is offered for interest-bearing checking products |
| Online account opening. | Steep balances are required to waive monthly fees for high-tier accounts |
| No monthly fee for basic tier checking | Low free cash deposit limit for basic accounts |
| Fee-free withdrawals at the MoneyPass network | $100 opening deposit |
Our rating: 4.30 out of 5
Chase is a leading traditional bank with its own innovative blockchain platform, Onyx, enabling seamless digital asset and information exchange. As a crypto-friendly financial institution, Chase offers a full suite of business banking products, including three business checking options, certificates of deposit, credit cards, and loans. You can open a Chase business account online or at any of its 4,700 branches across 48 states.
I consider Chase one of the top crypto-friendly banks because it allows you to purchase digital assets through authorized exchanges. While you can’t directly trade crypto on its platform, you can transfer funds from your Chase account to invest in digital assets via regulated crypto exchanges or platforms compliant with the Financial Crimes Enforcement Network (FinCEN) regulations.
Businesses with regular domestic and cross-border payments can also benefit from Chase’s blockchain and asset tokenization technology, enabling fast payment transfers. The JPM Coin, a digital token, ensures instant payments for institutional clients.
To access Chase’s business banking solutions, you can start with the Chase Business Complete Banking account, which offers 20 teller and paper transactions, unlimited debit card and Chase ATM transactions, and a $5,000 monthly cash deposit limit. New account holders can earn up to a $500 cashback bonus by completing qualifying activities. The offer is valid through April 17, 2025.
| Pros | Cons |
|---|---|
| $5,000 free cash deposits monthly for entry-level accounts. | No interest earnings. |
| Unlimited electronic transactions | Only 20 fee-free paper transactions. |
| Up to $500 cashback bonus for new accounts (conditions apply). | $3 ATM fee when using nonnetwork (waived for higher-tier accounts). |
| No required opening deposit and minimum balance. | High balances to waive the monthly fees for premium checking accounts. |
Our rating: 4.26 out of 5
The fintech Revolut supports companies based outside of the U.S.
U.S. companies are not allowed to buy, sell, or hold crypto with Revolut as of October 23, 2023.
in buying and selling 120-plus tokens, which include Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Polygon (MATIC), Ripple (XRP), and Solana (SOL). Trading fees
Tiered pricing is based on total trade value over 30 days.
are low and vary by plan. Revolut also offers multi-currency accounts for global payments and easy access to funds. U.S. business owners can still open business accounts to enjoy fee-free and low-cost local and international transfers.
Despite its limited crypto services in the U.S., I still find Revolut among the best banks for cryptocurrency since overseas-based companies can easily transfer multiple tokens from their wallets to Revolut. What makes Revolut truly unique is its in-app trading platform, Revolut X, offering flat fees from 0% to 0.09%, regardless of your trading volume. You can also access trading charts and detailed analytics to make better decisions. Plus, Revolut offers 24/7 encrypted customer support.
Revolut’s business accounts have several advantages: you can open local accounts in USD, EUR, and GBP, hold and exchange over 25 currencies, and spend in 150 currencies. Local and international transfers are low-cost, and Revolut offers an expense management tool to track business spending.
| Pros | Cons |
|---|---|
| No monthly fees for basic checking. | Fee-free international transfer allocations exclusive to paid plans. |
| Hold and exchange over 25 currencies. | 2% ATM withdrawal fees regardless of amount or subscription plan. |
| Speedy local and international payments with free transaction allowances depending on your plan. | Custom account access is unavailable for the free plan. |
Our rating: 4.16 out of 5
Monzo is one of UK’s largest digital banks and is fully regulated by the Finance Conduct Authority (FCA). While direct crypto trading isn’t available, you can transfer funds from your Monzo account to authorized crypto exchanges. Monzo offers Lite, Pro, and Team accounts. The basic Lite account provides fee-free transfers with no monthly fee whereas the higher-tier products, Pro and Team, include advanced features like integrated accounting, invoicing, multi-user access, virtual cards, and more.
I picked Monzo as one of our best crypto-friendly banks, given its popularity as a digital-only bank among users. It’s rated as Britain’s top bank in an independent survey conducted by Ipsos. The bank ranked at the top for service quality and mobile banking. The app makes crypto purchases easy by supporting various payment methods like bank transfers, Faster Payments
Faster Payments is a method of sending money electronically in the UK. Payments are processed in real time and initiated through online, mobile or telephone banking.
, and debit cards. Additionally, Monzo gives you a unified view of both your crypto portfolio and banking transactions by integrating exchange accounts.
| Pros | Cons |
|---|---|
| No monthly fee for a Lite account. | £1 cash deposit fee at PayPoint or Post Office branch. |
| Up to £85,000 FSCS protection for eligible deposits. | 1% currency conversion fee for payments in foreign currency (not GBP). |
| Top-rated digital bank. |
Our rating: 3.51 out of 5
Although Silicon Valley Bank (SVB) had a bank failure in 2023, it has since been acquired by First Citizens Bank, a financial institution known for its solid stability. SVB supports bank transfers to licensed cryptocurrency exchanges like traditional banks on this list. It offers two regular checking accounts, an analyzed checking account, payment solutions, and business credit cards.
While SVB still carries the legacy of its past failure, its acquisition by First Citizens Bank makes it a solid choice for startups and venture capital investors. It continues to support venture-backed and blockchain-based companies, including network developers and offers financial products tailored to startups. With a dedicated team of crypto experts, the bank is well-equipped to support businesses in the evolving crypto space.
| Pros | Cons |
|---|---|
| No monthly fee for the basic tier checking. | Need to rebuild trust after bank failure. |
| Unlimited transactions. | No APY for checking products. |
| No opening deposit and balance minimums. | Steep $50 monthly maintenance fee after the 3-year waiver period. |
We considered numerousl key factors when evaluating and assigning a rating for the best crypto-friendly banks.
To complete our list of the best crypto-friendly business bank accounts, I reviewed each bank’s support for crypto services, trading platforms, business checking products, and fee structures (including monthly, transaction, and ATM fees). I also assessed the customer support availability, additional banking features, app ratings, and cash deposit options. Finally, I evaluated the available methods for transferring funds and withdrawing crypto.
Yes, Bank of America is considered crypto-friendly. It partners with cryptocurrency exchanges, like Coinbase and Gemini, enabling clients to transfer funds from their Bank of America accounts to purchase cryptocurrencies.
While Capital One does not allow crypto purchases with its credit cards, you can link your Capital One checking account to a FINRA-registered cryptocurrency exchange. Crypto trading must be done through a licensed third-party exchange.
Yes, Citibank is crypto-friendly, offering the Citi Integrated Digital Assets Platform (CIDAP) for blockchain and digital assets solutions, including asset custody. However, it doesn’t allow crypto purchases via credit card but supports linking your account to FINRA-licensed cryptocurrency exchanges.
Wells Fargo has entered the crypto space with Bitcoin ETF (exchange-traded fund) investments but still restricts crypto purchases using credit cards. However, like other major banks, it does allow fund transfers from your account to purchase crypto from regulated U.S. exchanges.
Yes, JP Morgan is crypto-friendly, with its blockchain platform, Onyx, and its own digital asset, JP Morgan Coin, which facilitates seamless payments among institutional clients.
The easiest way to withdraw crypto to your bank is to sell your crypto on a licensed exchange, convert it to cash, and then withdraw the funds to your bank account.
Many banks restrict crypto transactions due to the high risks involved. Most banks prohibit the use of credit cards for crypto purchases but may allow fund transfers from your linked bank account to regulated cryptocurrency exchanges.
Kaynak: https://www.techrepublic.com/article/best-crypto-friendly-banks/
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