In this article I’d like to compile a list of cryptocurrency-friendly banks from around the world.
Do Your Own Research
As with everything else related to cryptocurrencies, please perform due diligence before investing in any institution mentioned in this article.
If you still have doubts about a particular bank, please consult with friends, check online reviews or search Google placing the bank name next to “cryptocurrency” or “Bitcoin”.
This way you’ll be able to check for recent developments related to that particular institution.
Filter the search results by date, especially to show results from the recent weeks and months to see if any recent crypto-related news have been published about each particular bank.
Check Current Policies
Since things tend to change very fast in this field, it is possible that some banks which previously allowed crypto trades might have changed their policy.
Several large banks have suddenly changed their stance on cryptocurrency, so please verify the current status with other authoritative sources before investing.
I am not responsible for any issues caused by cryptocurrency trading, especially when working with any of the banks listed below.
This article is meant for informational purposes only and constitutes the best of my knowledge at the time of writing.
Please do your own research before trading cryptocurrencies.
These are banks known to use, allow or otherwise not penalize users for performing cryptocurrency-related transactions.
Masventas is using Bitcoin for international money transfers. Although their public-facing site does not mention Bitcoin, the Bitex money remittance service uses cryptocurrencies.
Country: USA (Oregon)
Monaize is no longer in operation or their WWW site has been taken down.
We’re leaving its entry here for reference only.
GS once had a plan for a Bitcoin trading desk but cancelled the project. Consult online reviews, friends and perhaps GS itself if they allow Bitcoin trading before investing.
National Bank of Canada
Bankera is a virtual banking company which was founded specifically for crypto trading. It was, in fact, originally crowdfunded through an ICO in 2017 where they issued the BNK token.
Country: Virgin Islands
Worldcore is no longer in activity. Left here as a reference only.
Country: Czech Republic
Some of the above banks aren’t exactly “crypto friendly”, but just haven’t been known for closing down customer accounts because of crypto activity.
While buying or selling cryptocurrenciers, stay away from Bank of America. They’ve been known to close accounts for the mere suspicion of cryptocurrency trade.
Cryptocurrencies pose a major strategic challenge for traditional banks and it’s expected that some institutions will not be crypto friendly in the short term. When trading cryptos, it’s safe to assume that your bank probably won’t like the idea. I’d be surprised if they do, so keep this in mind.
While I predict that banks will either adapt to crypto or perish, for the time being you must be careful to use only crypto friendly banks while buying or selling Bitcoin and other crypto assets.