10 Best Crypto Banks in the US, Canada, and Europe ( 2023 )

Best Crypto Banks in the US, Canada, and Europe ( 2023 )

When searching for a bank that accommodates cryptocurrency in your local area, it may be challenging to find one as many banks tend to avoid it. The reason for this is that they view cryptocurrency as a threat to traditional fiat currency and their operations. Banks also perceive that there is an increased risk of fraud and money laundering associated with cryptocurrency, causing them to steer clear. You can find a comparison between crypto and fiat currencies here.

Despite the hesitations that banks have towards cryptocurrency, some have decided to accept clients who use this innovative digital currency. The reason for this is the growing demand for cryptocurrency as an increasing number of merchants adopt it as a payment option. Banks in the US, Canada, and Europe have partnered with crypto payment processing services to handle transactions between organizations and their clients, making it easier to integrate cryptocurrency.

 What is a Crypto-friendly Bank?

It is important to grasp the concept of a crypto-friendly bank before exploring some of the top options. Cryptocurrency requires banks to thrive, just as businesses do. Without access to fiat economies, for example, it would have been challenging for Bitcoin to attain the value it holds today.

A crypto-friendly bank is a progressive financial institution that comprehends the cryptocurrency world. These banks offer customers the benefit of reduced transaction fees when exchanging between crypto and fiat currencies. They seamlessly integrate cryptocurrencies and conventional banking operations. However, it is crucial to have a thorough understanding of how cryptocurrency gains value before proceeding.

Best Crypto-friendly Banks in Europe

Finding the best crypto-friendly banks in Europe is not easy. However, we have outlined some of the best institutions below. Read on!

1. Bankera (Lithuania)

Located in Lithuania, Bankera is a notable European bank that endeavors to connect traditional banking and cryptocurrency. This is achieved through its partnership with SpectroCoin, which provides brokerage services to its customers.

Bankera offers a dependable and efficient exchange service for both cryptocurrencies and tokens. By combining traditional banking services with the implementation of blockchain technology, Bankera provides a superb platform for its clients to manage their crypto assets.

2. Wirex (the UK and the European Region)

Wirex, headquartered in London, has a presence across Europe. It has established itself as one of the top options for opening a crypto-friendly bank account. Customers can send both digital and traditional currencies globally through Wirex.

In addition, the bank offers a cryptocurrency wallet that enables users to easily buy and sell various cryptocurrencies.

3. SEBA (Switzerland)

SEBA, founded in 2019, has emerged as one of the leading crypto-friendly banks globally, not just in Europe. This inventive bank strives to offer its clients a smooth integration of traditional currencies and digital assets.

SEBA caters to professional investors, family offices, and asset managers. It also provides secure storage of digital assets to Swiss blockchain companies. The bank offers services such as liquidity management, trading, digital asset loans, and innovative tokenization solutions. If you are seeking a Swiss bank that facilitates easy and secure exchange between fiat currency and cryptocurrencies such as BTC, Ethereum, and many others, SEBA is a viable option.

4. Solarisbank (Germany)

It would be remiss not to mention Solarisbank when discussing the best banks for opening a crypto-friendly account. This German-based firm, known for supplying digital banking APIs to big names such as Samsung, now offers unparalleled fiat-to-crypto trading and instant settlement through its trading solution.

Solarisbank's partnership with Luxembourg-based exchange Bitstamp has made this possible. The bank believes that instant swapping between crypto and fiat helps prevent fraud and provides a smooth trading experience for cryptocurrency enthusiasts.

5. Dukascopy (Switzerland)

Established in 1998, Dukascopy is now a licensed and regulated crypto-friendly bank based in Switzerland. It provides its clients with leveraged CFD trading on the price movements, value assessments, or derivatives of cryptocurrencies.

With its cutting-edge CFD trading platform, Dukascopy enables its customers to engage in speculative trades without the need for a digital wallet. This bank provides a safe way for those interested in digital currencies to trade in both bull and bear markets, offset losses through short selling, and trade securely.

6. Bank Frick (Liechtenstein)

Rewritten: Bank Frick is a cutting-edge wealth management firm offering a wide range of advisory services and investment management options. In addition to traditional current and trading accounts, Bank Frick allows clients to open both crypto trading and secure custody accounts for their digital assets. What sets Bank Frick apart is the variety of cryptocurrencies available for trade, including Bitcoin, Bitcoin Cash, NEM, Ether, Litecoin, Stellar, Qtum, and USD Coin. Customers can purchase these cryptocurrencies in USD, Swiss Francs, or Euros, even if they don't already own any.

7. Agribank (Malta)

Established in 2012, Agribank is a digital commercial bank based in Luqa, Malta. The bank specializes in providing hire purchase and finance lease services to clients in the UK's agricultural sector. While operating online only, it obtains funding through bonds, equity, wholesale funding, and retail deposits. Additionally, Agribank offers crypto banking services, allowing customers to purchase cryptocurrencies using traditional cards such as Maestro, MasterCard, Visa, and others.

8. Mistertango (Lithuania)

Mistertango is a platform that offers crypto users and businesses access to traditional financial services as well as cryptocurrencies. It provides solutions for individuals and businesses involved in the crypto industry.

This crypto-friendly processor offers both personal and business accounts, including the option to have multiple IBANs. The onboarding process with Mistertango is straightforward and fast. Clients can manage and access their online payments from multiple devices with real-time notifications keeping them informed of all transactions and balances in both fiat and crypto.

Note that while creating an account with Mistertango is free, to send and receive transfers from exchanges, a premium plan is required. Businesses pay $99.99 per month while individuals pay $4.99 per month for this plan.

9. Simplex (Lithuania)

Simplex, a traditional bank based in Lithuania, offers a unique combination of a payment gateway solution and a cryptocurrency brokerage platform for well-known crypto exchanges. It provides an easy way to purchase desired cryptocurrencies at competitive prices using a credit card. Payments are processed quickly and securely, with instant processing available in many cases. However, in some instances, verification checks may cause a delay of 48-72 hours. Simplex accepts a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and others.

10. Simple Bank

 Simple Bank, initially a cutting-edge fintech start-up, has evolved into a leading FDIC-insured bank for American citizens. Located in Oregon, it has partnered with various cryptocurrency exchanges, positioning itself as a top crypto-friendly bank in the US. Simple Bank enables customers to execute direct crypto purchases and sales, supporting popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, and others. What sets Simple Bank apart is its unlimited transaction limit for crypto transactions, facilitated by its innovative InstantSend Technology, which automates and speeds up the transaction process.

Recommended read