The global financial landscape is rapidly evolving, and nowhere is this more evident than in the growing relationship between traditional banking institutions and the cryptocurrency industry. As digital assets gain mainstream traction, a new class of cryptocurrency-friendly banks has emerged—financial institutions that support blockchain-based businesses, crypto payments, and digital asset custody. With regulatory uncertainty in some regions and increasing demand in others, the map of crypto banking is shifting fast.
This guide explores where crypto-friendly banks are thriving, how they operate, and what it means for businesses and investors navigating the future of finance.
What Makes a Bank “Crypto-Friendly”?
A crypto-friendly bank isn’t just one that allows customers to buy Bitcoin—it’s a financial institution that actively supports blockchain companies, crypto startups, exchanges, miners, and institutional investors with full-service banking solutions.
These services may include:
- Business accounts for crypto firms
- Fiat on-ramps and off-ramps
- Support for crypto-to-fiat transactions
- Digital asset custody partnerships
- Cross-border payment infrastructure
While many traditional banks remain cautious due to compliance risks, a growing number are embracing innovation—especially in jurisdictions with clear regulations like Switzerland, Singapore, Germany, and Dubai.
👉 Discover how leading financial hubs are reshaping global crypto banking access.
Regional Breakdown of Crypto-Friendly Banking
Europe: Home to Over 55 Crypto-Adopting Banks
Europe leads the world in regulated crypto banking, driven by the upcoming Markets in Crypto-Assets (MiCA) regulation. This comprehensive EU-wide framework will standardize licensing, consumer protection, and transparency across member states—making Europe an attractive destination for compliant crypto ventures.
France
France is preparing for MiCA with mandatory licensing for Digital Asset Service Providers (DASPs). Around 60 firms are already registered with the AMF, including SG Forge, the crypto arm of Société Générale. In 2022, Delubac & Cie became the first French bank to offer regulated crypto services, including secure digital asset custody.
Germany
Once a hotspot for unregulated crypto activity, Estonia tightened its stance after the Terra/Luna collapse. However, licensed players like Striga have emerged under stricter rules. Meanwhile, LHV Bank supports clients holding crypto assets and even provides tax reporting assistance.
Liechtenstein
A pioneer in blockchain legislation, Liechtenstein hosts Frick Bank, Europe’s first dedicated blockchain bank. It welcomes blockchain entrepreneurs and offers corporate accounts tailored to Web3 businesses. Mason Privatbank also provides crypto custody for high-net-worth individuals from Asia and Europe.
LGT Bank, one of the world’s largest private banks, has partnered with Swiss-based SEBA Bank to offer crypto custody and brokerage services in Liechtenstein and Switzerland.
United Kingdom
Despite having 14 crypto-friendly banks like BCB Group, ClearJunction, and Standard Chartered, UK-based crypto startups face rising hurdles. Regulatory delays have pushed firms like Copper—backed by Barclays—to relocate to Switzerland.
Still, institutional confidence remains strong. Barclays invested in both Copper and Elwood Technologies, signaling long-term belief in digital assets. The UK’s Financial Services and Markets Bill (FSMB) now brings crypto under FCA oversight, though its definition of digital assets is less detailed than MiCA.
Asia: 24 Emerging Crypto Banking Hubs
Japan
Japan took a balanced approach post-Mt. Gox, choosing regulation over bans. Major institutions like Nomura Holdings launched crypto subsidiaries and began offering Bitcoin derivatives. Three regional banks are developing an Ethereum-compatible stablecoin, while Sumitomo Mitsui Trust partners with Bitbank to provide institutional crypto custody.
Singapore
Singapore has become a go-to hub for European banks expanding into Asia. Swiss-based SEBA Bank operates locally, serving crypto firms needing traditional banking ties. Although not a full bank, Juno offers high-yield checking accounts for crypto users.
However, strict rules from the Monetary Authority of Singapore (MAS) limit exposure: banks must apply a 125% risk weight to assets like Bitcoin—meaning $125 in capital is required for every $100 in crypto exposure.
Hong Kong (China)
After mainland China’s crypto ban, Hong Kong positioned itself as a gateway for digital finance. Banks like Bank of Communications and Bank of China (Hong Kong) have shown interest in serving licensed crypto firms. Bloomberg reported a surge in company relocations following policy liberalization.
South Korea
Four of South Korea’s five largest banks—including Woori Bank and Shinhan Bank—offer some form of crypto custody. However, ongoing financial investigations could impact the country’s openness.
North America: 23 Banks Navigating Regulatory Headwinds
United States
The U.S. saw major upheaval with the collapse of Silvergate, Signature Bank, and Silicon Valley Bank—all key players in crypto banking. Rising interest rates and regulatory pressure contributed to their downfall.
The SEC continues aggressive enforcement, suing firms like Coinbase, Kraken, and Genesis over unregistered securities. In early 2023, federal regulators warned banks to avoid crypto exposure—dubbed “Operation Choke Point 2.0.”
Yet some institutions remain active:
- JPMorgan Chase
- Pathward Financial (partner of Coinbase)
- Customers Bancorp
- Western Alliance
States like Wyoming and Utah are leading legal innovation, creating special-purpose depository institutions for digital assets.
👉 See how new banking models are bypassing traditional restrictions in key markets.
Canada
Canadian banks generally allow retail crypto purchases but rarely support full business operations. Black Banx, a Toronto-based digital bank, serves crypto clients but faces scrutiny over fraud allegations involving its founder.
New guidelines from the Canadian Securities Administrators require platforms to strengthen investor protections—or lose access to Canadian users.
Mexico
Crypto use in Mexico focuses on remittances, driving demand for cross-border payment solutions. U.S. regulatory actions indirectly affect Mexican markets due to dollar dependency.
Latin America & Caribbean: Rising Adoption
Brazil
Brazil stands out as a regional leader. Banco do Brasil allows citizens to pay taxes using crypto via Bitfy. Private giant Itaú Unibanco plans to launch custody services soon. Digital bank Nubank hit 1 million crypto users within a month of launch.
According to Chainalysis, Brazil ranks among the top countries for retail crypto adoption—laying the foundation for robust banking integration.
Bahamas & Bermuda
Despite FTX fallout, the Bahamas continues attracting crypto firms through banks like Deltec Bank & Trust and Capital Union Bank, both linked to stablecoin issuers.
In Bermuda, Jewel Bank received full digital asset licensing in 2022. The island’s strong insurance sector creates natural synergy with risk-managed crypto finance.
El Salvador
El Salvador adopted Bitcoin as legal tender in 2021. The government-backed Chivo wallet integrates with national banks like Banco Hipotecario. With limited traditional banking access, neobank n1co raised $18 million to serve underbanked populations.
Australia & Middle East: Niche Growth Markets
Australia
Six banks now support crypto activities:
- Commonwealth Bank partners with blockchain trade platforms
- Westpac collaborates with energy-trading platform Power Ledger
- Judo Bank serves SMEs in the crypto space
- Macquarie Bank funds blockchain supply chain and carbon credit projects
Digital-first banks like Chrono Bank specialize in crypto asset management and global exchange access.
Middle East
The UAE leads regional adoption with banks like:
- Emirates NBD: launched a blockchain trade finance platform
- RAKBANK: partnered with Bittrex to enable direct crypto trading from bank accounts
PwC reports the Middle East accounts for 7% of global crypto volume—a figure expected to grow as regulations mature.
The Evolving Landscape of Crypto Banking
Today’s crypto-friendly banks fall into three categories:
- Traditional Banks – 61 institutions offering fiat infrastructure
- FinTech & Neobanks – 46 digital-native platforms enabling seamless integration
- Crypto-Dedicated Banks – 19 specialized institutions providing tailored services
Despite progress, challenges remain:
- High-risk clients (e.g., new exchanges, DAOs) face scrutiny
- KYC/AML checks take 1–3 weeks due to compliance demands
- Most banks handle fiat only; direct crypto handling is rare
Yet many U.S.-based banks are exploring international expansion—acknowledging the inherently global nature of blockchain finance.
Frequently Asked Questions (FAQ)
Q: Can crypto companies open business bank accounts easily?
A: It depends on jurisdiction. In MiCA-aligned countries like France or Germany, licensed crypto firms can access banking services more readily. In contrast, U.S. options have narrowed post-Silvergate.
Q: Do any banks let you buy crypto directly?
A: Some UK banks like RBS allow limited daily purchases. RAKBANK in the UAE enables direct trading via Bittrex. However, most traditional banks restrict such activities.
Q: Are there banks that custody crypto assets?
A: Yes—banks like SEBA (Switzerland), Zodia (Japan), and Sygnum offer regulated digital asset custody for institutions.
Q: Why are some banks exiting crypto services?
A: Regulatory uncertainty and reputational risk drive exits. First Republic and Metropolitan Commercial Bank cited compliance concerns when dropping crypto clients.
Q: Is it safe to use a crypto-friendly bank?
A: Regulated institutions following AML/KYC protocols are generally secure. Always verify licensing status and avoid unregulated entities posing as banks.
👉 Learn how top-tier financial institutions are building compliant pathways into digital assets.
Final Thoughts
As global blockchain companies grow—reaching nearly 3,000 firms in late 2024—the need for reliable banking partners intensifies. While the U.S. retreats amid regulatory crackdowns, Europe, Asia, and parts of Latin America are stepping up with clear frameworks and supportive institutions.
For crypto entrepreneurs and investors alike, choosing the right banking jurisdiction isn’t just about access—it’s about sustainability, compliance, and long-term growth potential.
The future of finance is hybrid: where traditional banking meets decentralized innovation—and those who adapt fastest will lead the next era of global economic transformation.