Leading U.S. Bank Surprises Wall Street with Unexpected Shift to Cryptocurrency Finance

Rebranding and Focus: Monet Bank has rebranded itself as a crypto-focused financial institution, now holding nearly $6 billion in assets and positioning itself as a digital-asset infrastructure provider under billionaire owner Andy Beal.

Historical Transformation: Originally established as Beal Savings Bank in 1988, Monet Bank has undergone significant identity changes, transitioning from traditional banking to a focus on the digital-asset sector.

Emerging Crypto Banking Class: Monet Bank joins a new wave of regulated U.S. banks, such as Erebor and N3XT, that are creating specialized services for the crypto industry, blending traditional banking compliance with digital-asset support.

Strategic Positioning: Unlike newer startups, Monet Bank leverages its operational history and regulatory framework to serve as a bridge between conventional finance and the emerging tokenized economy, indicating a shift in how established banks view opportunities in the crypto space.