A bank that spent decades operating as a traditional community institution in Texas has suddenly reappeared with a very different mission.
Now called Monet Bank, the firm has repositioned itself as a crypto-focused financial institution, joining a small but fast-growing group of regulated US banks racing to serve the digital-asset industry.
Key Takeaways
Monet Bank has fully rebranded into a crypto-focused institution with nearly $6B in assets.
The bank positions itself as a digital-asset infrastructure provider under billionaire owner Andy Beal.
It joins a new wave of US banks – like Erebor and N3XT – building regulated services for the crypto industry.
A Radical Transformation Years in the Making
Monet Bank did not start out as a crypto player.
The institution opened its doors in 1988 under the name Beal Savings Bank, long before anyone imagined digital currencies. But after decades of quiet community banking, the firm has accelerated through two rapid identity changes — first XD Bank, and now Monet Bank — signaling a strategic pivot into the digital-asset sector.
The bank’s owner, Andy Beal, a billionaire investor and long-time supporter of President Donald Trump, is steering the institution into territory that most US banks still avoid. Federal filings show Monet holds just under $6 billion in total assets and roughly $1 billion in capital, giving it the balance sheet needed to pursue specialized services.
Positioning Itself as a Digital-Asset Infrastructure Bank
Rather than marketing itself as a bank that merely accommodates cryptocurrency accounts, Monet is presenting a more ambitious vision.
Its public mission statement describes an institution built to support the architecture of the digital economy, offering business-grade services tailored for companies engaging with blockchain-based finance.
The overhaul appears nearly complete: new branding, new positioning, updated regulatory filings, and an infrastructure shift that suggests the bank intends to operate in the same category as specialized crypto-native institutions.
Monet remains FDIC-regulated and maintains six physical branches — a rare blend of traditional oversight and digital-asset ambition.
A New Class of Crypto Banks Is Taking Shape
Monet Bank is emerging at a moment when several new players are trying to fill the void left by collapsed or shuttered crypto-friendly institutions.
Recent examples include:
Erebor Bank, a tech-centric institution backed by Peter Thiel, which received a conditional national bank charter from the OCC in October.
N3XT, a Wyoming-based SPDI bank founded by former Signature Bank executives, which plans to use a private blockchain to clear payments instantly.
Together with Monet Bank, these firms form a new, highly regulated layer of crypto-aligned banking — one that blends traditional compliance with digital-asset settlement, tokenized credit markets, and crypto-business support.
Why Monet Bank’s Entrance Matters
Unlike startups building new digital banking models from scratch, Monet brings decades of operational history and a sizable balance sheet into the crypto arena.
This gives it something the newest entrants lack: an existing regulatory footprint, infrastructure, and capital base.
Its shift into digital-asset lending signals that established banks — even smaller regional ones — are beginning to see opportunity where major institutions remain cautious.
Monet Bank now positions itself not as a fringe experiment but as a fully regulated bridge between conventional finance and the emerging tokenized economy.
