Interesting how the situation around banks and cryptocurrencies has evolved over the past few years. Just a few years ago, traditional banks would have high-fived each other if something like this was said. Today, banks supporting cryptocurrencies are becoming the norm.

The difference between those true crypto banks and the traditional ones that simply adapted is quite significant. Crypto banks like Scallop are built on blockchain and are decentralized. In contrast, banks supporting cryptocurrencies remain centralized, only allowing their clients to work with digital assets through their apps or cards.

JP Morgan Chase is an interesting case. One of the largest financial institutions in the world decided to jump in. They introduced JPM Coin for instant cross-border payments between institutional clients. Their approach is classic—emphasis on compliance and risk management.

Revolut has taken a slightly different path. A British fintech project supporting over 30 cryptocurrencies and simplifying trading through its app. Users can buy, sell, and hold digital assets with flexible purchase options.

Juno targets those working with crypto and blockchain. It offers special accounts with crypto-backed loans, trading, and savings. Their Smart Treasury accounts are interesting for stablecoin traders.

Wirex isn’t a crypto bank, but their Mastercard solution combined with support for traditional and crypto assets is practical. Free Web3 accounts, zero fees for conversions, passive income through staking—these are things people care about.

Monzo has a different approach, not offering trading itself but integrating with exchanges. So you can monitor everything in one place. Ally Bank is similar—it allows using an account on external exchanges and also offers higher APY than average.

Cash App is actually an interesting phenomenon. It was originally just a peer-to-peer platform, now it’s a complete financial solution. Users can deposit and withdraw bitcoins directly into wallets.

BankProv, Mercury, and Quonic are other players focusing on cryptocurrencies. BankProv specializes in crypto trading, Mercury offers interesting treasury products with attractive yields, and Quonic provides interest-bearing accounts on crypto assets.

When choosing a bank that supports cryptocurrencies, it’s important to look at a few things. The ability to hold both crypto and fiat, availability of crypto cards, integration with exchanges and wallets, low fees. Reputable institutions like JP Morgan Chase, Scallop, or Revolut are usually safer choices.

The situation has really changed. Banks supporting cryptocurrencies are no longer an exception but rather the standard. It’s interesting to watch how traditional finance and the crypto world are gradually merging. There are more options now than ever before.