Texas’ Monet Bank Rebrands and Enters Crypto Lending as Digital Asset Demand Grows

Monet Bank, a small Texas community bank backed by billionaire investor and well-known Donald Trump supporter Andy Beal, is making a bold move into the digital-asset sector. Despite holding just under $6 billion in assets and a little over $1 billion in capital, the bank is positioning itself as a rising player in crypto finance. According to its website, Monet aims to become a “premier digital asset financial institution,” offering services designed to support the expanding digital economy.

The institution—originally founded as Beal Savings Bank in 1988—underwent two rebrands this year, first becoming XD Bank before adopting the name Monet Bank. Regulated by the Federal Deposit Insurance Corp. (FDIC), the Texas-chartered bank currently operates six offices across the state, according to federal data. Its shift toward crypto-related services was first reported by The Information.

Monet Bank enters a growing yet selective group of U.S. banks seeking to serve the cryptocurrency and blockchain industries. In October, the Office of the Comptroller of the Currency granted a conditional charter to Erebor Bank, a tech-driven institution backed by Founders Fund’s Peter Thiel. More recently, former Signature Bank executives launched N3XT, a specialized Wyoming-chartered narrow bank building a private blockchain for instant settlement.

These developments coincide with shifting attitudes among federal banking regulators toward digital assets. Since President Trump took office, agencies have rolled back earlier warnings urging caution on crypto exposure and introduced new guidelines designed to help digital-asset companies gain broader access to banking services. FDIC Acting Chair Travis Hill also revealed that the agency expects to propose rules aligned with the stablecoin-focused GENIUS Act.

Beal Bank’s parent company did not respond to requests for comment, but Monet Bank’s strategic pivot highlights increasing momentum in the banking sector toward supporting crypto innovation and infrastructure.