Monet Bank Joins Growing Field of Crypto-Focused Banks in Texas
Monet Bank, a Texas state-chartered community bank with six offices, has recently pivoted into crypto lending and now positions itself as an infrastructure bank for the digital economy. The bank, which is FDIC-regulated with assets under $6 billion and capital just over $1 billion, aims to be the premier digital asset financial institution offering innovative, forward-looking solutions.
Founded in 1988 as Beal Savings Bank, it was renamed XD Bank earlier this year before becoming Monet Bank about two months ago. The bank is owned by billionaire Andy Beal, founder of Beal Financial Corp, who was a major backer of Donald Trump's 2016 campaign through his political action committee.
Monet's move into crypto banking places it among a growing group of crypto-focused banks, alongside Erebor Bank—which received an OCC conditional charter in October 2025 and is backed by Peter Thiel—and N3XT, a Wyoming SPDI launched by former Signature Bank executives.
Regulatory agencies have been shifting their approach to cryptocurrency banking. Since the Trump administration, some anti-crypto guidance has been withdrawn, and new policies aimed at expanding crypto banking access have been introduced. FDIC acting chair Travis Hill recently mentioned that a GENIUS Act-related rule proposal is expected following a recent hearing.
The Information had reported Monet Bank's transition into crypto earlier on the Friday before this article's publication.
