Haciyev Reşit 
A notable development has taken place in the U.S. crypto banking sector. Billionaire businessman Andy Beal, one of the major supporters of Donald Trump’s 2016 presidential campaign, is preparing to announce a new federally licensed crypto bank called Monet Bank. The decision of this Texas-based community bank to enter the digital asset industry is seen as the beginning of a new era in crypto-focused banking.
Monet Bank: From a Small Bank to a Crypto-Focused Institution
Monet Bank is a small Texas community bank owned by Andy Beal’s Beal Financial Corp. The bank has positioned itself as an innovative “infrastructure bank” focused on digital assets. According to its website, Monet aims to become “the leading digital asset financial institution offering innovative and forward-thinking solutions for the digital economy.”
Even though its asset value is under $6 billion and its capital is limited, state filings define Monet as a community bank. Despite this, its crypto-focused growth plans are closely watched in the industry. The bank’s history is also interesting. Founded in 1988 as Beal Savings Bank, the institution changed its name to XD Bank earlier this year. Just two months later, it rebranded again as Monet Bank. Regulated by the Federal Deposit Insurance Corporation (FDIC), the bank currently has six branches, according to federal data.
Crypto Banking Competition Is Heating Up
Monet Bank’s move into crypto banking comes at a time when U.S. regulators are shifting their approach to digital assets. After the Trump administration, federal agencies rolled back some existing guidelines, urged banks to be more cautious with crypto activities, and issued various frameworks aimed at improving access to banking services for the crypto industry.
The crypto-focused banking sector is increasingly growing. In October, the Office of the Comptroller of the Currency granted a conditional license to Erebor Bank, a technology-focused institution backed by Peter Thiel. Meanwhile, former Signature Bank executives launched N3XT, a narrow bank licensed as a Wyoming Special Purpose Depository Institution, designed to settle transactions instantly over a dedicated blockchain. With Monet Bank entering this space, competition has intensified. Growth in services such as digital asset lending, custody solutions, and payment infrastructure is increasing the importance of crypto-focused banks.
Monet Bank’s announcement highlighted the following statement:
“Monet is designed to deliver the innovative and forward-thinking financial infrastructure the digital economy needs. Our goal is to achieve a strong position in the industry with digital asset-focused solutions.”
Regulators Are Taking Action Too
Federal regulators are also reshaping their policies toward crypto. FDIC Vice Chair Travis Hill stated this week that the agency is preparing to propose new rules under the stablecoin-oriented GENIUS Act. This indicates that crypto banking will be regulated within stricter but clearer frameworks moving forward. Andy Beal’s company has not yet responded to requests for comments regarding Monet Bank’s new vision.
Assessment
Monet Bank’s entry into crypto-focused banking is a significant indicator of how rapidly digital asset financial services are expanding in the U.S. Despite being a small community bank, its backing by a powerful billionaire investor may give Monet a strategic advantage in the sector. As competition in crypto banking intensifies, the steps taken by Monet will be closely monitored.
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