Best Crypto-Friendly Banks in the USA 2026: After Operation Chokepoint, What Actually Works

TL;DR: The US crypto banking landscape went through its most dramatic disruption in history between 2022 and 2024, when Operation Chokepoint 2.0 saw regulators pressure banks to drop crypto clients, Silvergate and Signature Bank collapsed in March 2023, and at least 30 entities documented losing banking access during the period. The landscape began shifting significantly from January 2025, when the SEC rescinded SAB 121 (the accounting rule that forced banks to book client crypto as balance-sheet liabilities), the OCC issued interpretive letters confirming national banks may engage in crypto custody and stablecoin activities, and the Trump administration's broader pro-crypto regulatory posture reduced the regulatory pressure that had driven banks away from the sector. In 2026, US crypto banking falls into three practical tiers: retail-friendly banks that allow exchange transfers (Chase, Ally, Bank of America), fintech hybrids that offer built-in crypto trading (SoFi, Revolut, Quontic), and institutional-grade providers for businesses (JP Morgan Kinexys, Anchorage Digital, Avanti). As of January 2026, Bank of America authorized over 15,000 wealth advisors to actively recommend crypto ETFs to clients. MediaCrypto note: the US in 2026 is a meaningfully better environment for crypto banking than 2022 to 2024, but the improvement is gradual and uneven. Most traditional banks still allow exchange transfers but do not offer native crypto services. The crypto-native banking options that exist are primarily fintech rather than traditional bank.

The collapse of Silvergate and Signature Bank in March 2023 left a gap in US crypto banking that has not been fully filled three years later. Both banks had built dedicated infrastructure for crypto clients, including 24-7 real-time payments networks designed specifically for the crypto industry's around-the-clock settlement needs. Their simultaneous failure in the same month, triggered by bank runs that reflected broader confidence issues following FTX's collapse, removed the primary banking rails that crypto exchanges, stablecoins, and blockchain companies had relied on.

What followed was a period of genuine banking access crisis for the US crypto industry. At least 30 entities documented losing banking access between 2022 and 2024 according to a November 2025 House Financial Services Committee report. Anchorage Digital, despite holding a federal bank charter, was refused by roughly 40 other banks and had to lay off 20 percent of its workforce. The informal coordination between bank regulators and financial institutions that discouraged crypto banking relationships, which the industry labeled Operation Chokepoint 2.0, had a real and measurable effect on which banking services US crypto companies could access.

The Regulatory Shift That Changed Things in January 2025

The most consequential regulatory change for US crypto banking happened on January 23, 2025, three days after Trump's inauguration, when the SEC rescinded Staff Accounting Bulletin 121 (SAB 121). SAB 121 had required banks to book any client crypto assets they custodied as balance-sheet liabilities, a treatment that made crypto custody enormously capital-intensive for banks compared to traditional asset custody. Because banks needed to hold capital against those liabilities, most chose not to offer crypto custody rather than absorb the capital cost. The rescission of SAB 121 removed this specific barrier, making crypto custody viable within normal bank capital frameworks for the first time.

The OCC followed with interpretive letters confirming that national banks may engage in crypto custody, stablecoin activities, and blockchain transactions. These letters provided the regulatory clarity that many banks had been waiting for before committing to crypto product development. The combination of SAB 121 rescission and OCC clarity produced a visible change in how major US banks publicly positioned themselves relative to crypto.

As of January 2026, Bank of America authorized over 15,000 wealth advisors to actively recommend crypto ETFs to clients, a significant signal from one of the largest retail banks in the country. This is not the same as Bank of America offering crypto trading, but it represents a formal institutional endorsement of crypto ETFs as a legitimate investment product for retail clients that would have been unthinkable during the Operation Chokepoint period.

Tier 1: Traditional Banks That Allow Exchange Transfers

For most retail crypto investors, the primary banking need is the ability to fund exchange accounts and receive withdrawals without transfers being blocked or accounts flagged.

Chase (JPMorgan Chase) is widely cited as one of the more reliable traditional banks for crypto transfer activity. Transfers to FinCEN-registered exchanges like Coinbase, Kraken, and Gemini typically go through without friction. Chase also operates Kinexys (formerly Onyx), its institutional blockchain platform that enables fast digital asset and payment transfers for corporate clients, and partners with NYDIG as a sub-custodian for institutional Bitcoin custody. For retail users, Chase is not a crypto trading bank, but it does not block legitimate exchange activity.

Ally Bank is consistently recommended as crypto-friendly for personal accounts, allowing transfers to licensed exchanges without blanket restrictions. Ally does not offer native crypto trading but is one of the largest online banks and maintains a policy of not blocking crypto-related transfers.

Bank of America's retail policy allows wire transfers and ACH payments to licensed exchanges, making it functional for crypto on-ramp and off-ramp purposes even without native crypto trading. The January 2026 authorization for wealth advisors to recommend crypto ETFs represents a more explicit institutional positioning than most other major traditional banks have taken.

Wells Fargo has historically been more cautious, described as slow, careful, and compliance-first in its approach. Transfers to licensed exchanges are permitted but Wells Fargo does not participate in crypto custody or blockchain infrastructure in the way that Chase's Kinexys platform does.

Tier 2: Fintech Hybrids With Built-In Crypto

SoFi rolled crypto trading back into its main app in late 2025 after temporarily removing it due to regulatory uncertainty. SoFi Bank, N.A., now offers crypto buying and selling directly within the SoFi banking app alongside traditional banking services. This makes SoFi one of the few FDIC-insured US banks where you can manage both conventional banking and crypto purchases within a single institutional relationship.

Quontic was the first FDIC-insured US bank to launch a Bitcoin Rewards checking account, which earns 1.5 percent back in Bitcoin rewards on debit card purchases rather than conventional cash or points. The account combines traditional banking services with a crypto reward mechanism, appealing to users who want Bitcoin exposure tied to everyday spending without active trading. Quontic's positioning has evolved to emphasize digital banking broadly, but the Bitcoin rewards account remains available.

Revolut, while primarily a UK and European product, holds a US money transmitter licence and serves US customers with built-in crypto buying and selling of over 130 assets. For US users who want a fintech-native experience rather than a traditional bank relationship, Revolut provides exchange transfers and built-in crypto trading in one place.

Mercury is specifically designed for Web3 and tech companies rather than retail users. It offers business banking solutions for crypto and fintech companies without restrictions on crypto-related transactions. While users cannot hold cryptocurrency in a Mercury account, there are no blanket restrictions on crypto business activity through the account, making it a preferred choice among blockchain startups and Web3 companies that struggled to maintain banking access during Operation Chokepoint.

Tier 3: Institutional Grade for Businesses and High-Net-Worth Clients

JP Morgan's Kinexys platform is the institutional blockchain infrastructure layer that major corporate clients use for fast digital asset payments and settlement. It operates separately from retail banking and is designed for large-scale corporate and institutional use, including JPM Coin, a digital token that facilitates instant payments between institutional clients.

Avanti Bank, chartered in Wyoming under the state's Special Purpose Depository Institution framework, was specifically designed as an institutional bank for digital assets. Wyoming became the first state to establish a legal framework for blockchain businesses, and Avanti holds a charter as a qualified custodian for digital assets. It targets institutional clients rather than retail users and focuses on digital asset custody, API-based banking, and real-time settlement solutions.

Anchorage Digital holds a federal bank charter from the OCC, granted in January 2021, making it the first federally chartered crypto bank in US history. Despite the banking access difficulties it faced during 2022 to 2024, Anchorage remains the most regulatory-credible crypto-native bank in the US, offering custody, staking, trading, and financing for institutional clients.

Customers Bank serves as a key infrastructure provider for the crypto industry's fiat settlement needs, particularly for instant commercial payments. It has maintained relationships with crypto businesses through the Operation Chokepoint period and is specifically cited for its role in stablecoin settlement infrastructure.

The Still-Unsolved Problem

Despite the significant improvement from January 2025 onward, the fundamental problem that Silvergate and Signature's collapse created has not been fully solved. The US crypto industry still lacks the 24-7 real-time dollar payment rails that both banks provided through their proprietary networks (SEN for Silvergate and Signet for Signature). These networks allowed crypto exchanges and their institutional clients to move dollars at any hour without waiting for Federal Reserve banking hours, which matter in a market that trades continuously.

No replacement has emerged at comparable scale and ubiquity. The institutional crypto industry in 2026 operates with more friction in its dollar settlement infrastructure than it did before March 2023, and this settlement gap is a genuine operational limitation for US-based crypto exchanges and their institutional clients.

About the Author

This article was researched and written by the MediaCrypto editorial team. MediaCrypto is a cryptocurrency news and market analysis publication covering Bitcoin, Ethereum, altcoins, regulatory developments, and market trends. Follow us on X at @MediaCrypto_AI and on Instagram.

FAQ — Crypto-Friendly Banks USA 2026

Which US bank is most crypto-friendly? For retail users, Chase and Ally Bank allow crypto exchange transfers without blanket restrictions. SoFi offers built-in crypto trading within its banking app. Quontic provides a Bitcoin rewards checking account. For institutional clients, Anchorage Digital (federal charter) and Avanti Bank (Wyoming charter) offer dedicated crypto banking.

What was Operation Chokepoint 2.0? Operation Chokepoint 2.0 is the name the crypto industry gave to the informal coordination between US bank regulators and financial institutions between 2022 and 2024 that pressured banks to drop crypto clients. A November 2025 House Financial Services Committee report documented at least 30 entities that lost banking access during this period.

Why did Silvergate and Signature Bank collapse? Both banks collapsed in March 2023, triggered by bank runs following FTX's collapse in November 2022. Their concentrated exposure to crypto clients and deposits made them vulnerable to simultaneous withdrawal pressure when confidence in the crypto industry fell. Their collapse removed the primary 24-7 real-time dollar payment networks that crypto exchanges had relied on.

What changed for US crypto banking in January 2025? The SEC rescinded SAB 121, which had forced banks to book client crypto assets as balance-sheet liabilities and made crypto custody capital-intensive. The OCC issued interpretive letters confirming national banks may engage in crypto custody and stablecoin activities. These changes significantly reduced the regulatory barriers that had kept traditional banks away from crypto services.

Can I hold Bitcoin in a US bank account? Direct Bitcoin custody in a conventional bank account remains rare in 2026. Most banks permit transfers to and from licensed exchanges for indirect Bitcoin exposure. SoFi offers built-in crypto buying through its banking app. Quontic offers Bitcoin rewards. Institutional-grade Bitcoin custody is available through Anchorage Digital, Avanti, and JP Morgan's Kinexys for qualifying clients.

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This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.