Top Crypto-Friendly Banks: Why Some Banks Work and Some Don’t (2025)

Crypto banking isn’t a niche anymore. As regulatory frameworks tighten and traditional finance inches closer to digital assets, a new wave of institutions is redefining what it means to offer financial services. Some were born in crypto. Others are legacy banks pivoting fast. Together, they’re shaping how businesses and investors interact with digital assets in 2025.

This article looks at major banks at the center of that shift: Bank Frick, Revolut Business, Sygnum Bank, Bakkt, etc. Each plays a different role, some push compliance boundaries, others offer seamless infrastructure or global access. All are relevant in different ways.

We’ll compare how they stack up across services offered, regulatory posture, innovation, and institutional relevance. Through this, you will understand as to why some banks are crypto-friendly and why some have failed to do so. 

The Pioneers vs. The Transformers

Not all crypto banks started in the same place. Some were built around digital assets from day one. Others backed into crypto after years in traditional finance or fintech.

Bank Frick and Sygnum fall into the first category. Both positioned themselves early as crypto-native banks with a clear regulatory base. Sygnum, in particular, was designed to blend Swiss banking precision with blockchain infrastructure. It operates under full banking licenses and builds around custody, tokenization, and compliance tooling. Bank Frick took a more entrepreneurial path, integrating blockchain into its operations starting in 2018 and serving as a regulated partner for tokenization, staking, and DeFi access.

Revolut, Bakkt, and BankProv, on the other hand, came from the outside. Revolut started as a fintech app and scaled fast across global markets before layering in crypto services. Bakkt began as a digital asset infrastructure platform, then expanded into custody, trading, and institutional services. BankProv entered during the last bull cycle, hoping to bridge crypto and traditional finance, but retreated after losses in crypto lending.

The philosophical divide matters. Native crypto banks treat digital assets as core infrastructure. Custody, staking, and tokenization aren’t just product lines, but they’re how the bank operates. For the others, crypto remains a layer on top of an existing model. That shows in how they prioritize regulation: Bank Frick and Sygnum often lead on compliance; Revolut and Bakkt focus on scaling access. BankProv tried to do both and paid for it.

This difference shapes how these banks respond to 2025’s environment, where regulators want clarity, clients want security, and markets still move fast.

Regulatory Readiness and Global Reach

Licensing is what separates crypto banks from crypto companies. Without it, platforms can’t scale across borders or handle client funds securely. Each of these institutions approaches regulatory compliance differently, some as a foundation, others as a barrier they’ve struggled to navigate.

Sygnum leads the pack. It holds a full banking license from Switzerland (FINMA) and a Capital Markets Services license from Singapore (MAS). With registration in Liechtenstein, it’s positioned to operate across the EU under MiCA. That tri-jurisdiction model (Zurich, Singapore, Liechtenstein) lets Sygnum serve institutional clients across Europe and Asia without needing fragmented regulatory workarounds.

Bank Frick operates entirely under Liechtenstein’s legal framework, which remains one of the most crypto-progressive in Europe. Through EEA passporting, it offers services across the EU without needing separate licenses per country. The bank also complies with FATF standards and proactively aligns with MiCA, putting it ahead of many rivals who still treat MiCA as a pending obstacle.

Revolut has the broadest reach on paper. It holds VASP registrations in Cyprus, Spain, Singapore, and the UK, and operates with banking licenses through Lithuania and Ireland. But its crypto offering is segmented. U.S. services were pulled in 2023 due to regulatory pressure, and crypto support varies by plan and region. It’s fully licensed, but not always fully operational.

Bakkt holds a BitLicense in New York and is registered as a Money Services Business (MSB) with FinCEN. It’s also licensed in all 50 U.S. states, but has faced delays and pushback over listings and operations, especially as U.S. regulators tighten oversight. Recent talks of a potential acquisition only add to the uncertainty around its long-term regulatory posture.

BankProv no longer belongs in the crypto conversation. After exiting the space in 2023, it no longer offers crypto lending, custody, or business accounts tied to digital assets. While still a federally regulated bank with FDIC and DIF coverage, it operates outside the current crypto banking landscape.

Crypto Services

Each institution offers a different angle on digital asset services; some doubling down on institutional-grade custody, others pushing toward integrated DeFi access or seamless fiat-crypto movement. The differences reflect how each bank defines its role in a still-fragmented crypto economy.

Sygnum runs the most comprehensive suite. It offers regulated custody, 24/7 trading, staking for multiple proof-of-stake networks, tokenization via its Desygnate platform, and crypto-backed lending. It also launched Sygnum Connect, an instant settlement layer for multi-asset trades. Everything sits under Swiss or Singaporean oversight, aimed squarely at institutional clients. The utility is deep, but the entry point is high.

Bank Frick offers broad utility with a faster-moving, product-first mentality. Its custody services are integrated with trading, staking, and tokenization, spanning over 16 cryptocurrencies. Its standout feature is Bank Frick xPULSE, a near-continuous payment rail that links fiat and crypto transfers across its network, bypassing banking-hour delays. It supports instant settlements and connects to exchanges like OKX, making it particularly useful for fintechs and payment providers.

Revolut is built for access, not depth. Its business clients can trade over 100 tokens, hold and convert across 40 fiat currencies, and plug directly into accounting platforms like Xero or QuickBooks. But crypto custody is custodial-only (users don’t control private keys) and tokenization or staking services aren’t offered. Its strength lies in integration: crypto as a component of a broader business stack, not a financial vertical on its own.

Bakkt sits between these models. It offers regulated custody through Bakkt Trust, and trading via a dedicated API platform. It relaunched its custody service in late 2023 with more asset support and began expanding its token listings. BakktX, a new ECN built in partnership with Crossover Markets, focuses on ultra-low latency execution for institutional trades. Lending options are limited, and staking remains absent, but Bakkt’s goal is clear: build high-performance infrastructure, not retail-facing features.

Innovation and depth define Bank Frick and Sygnum. Bakkt delivers performance for institutions. Revolut offers usability for general businesses. The gaps are as important as the offerings themselves.

Who Are They Built For?

These banks don’t serve the same audience, and they don’t try to. Their infrastructure, onboarding process, and customer support reflect who they’re actually built to accommodate, not just who they say they serve.

Sygnum targets institutions and high-net-worth individuals. The onboarding process is deliberate, with strict KYC and compliance reviews. The trade-off is access to premium services (staking, tokenization, crypto-backed lending) under a regulated Swiss-Singaporean umbrella. Support is responsive but tailored to professional clients. Sygnum isn’t built for fast signups or casual users. It’s built for capital that demands compliance and control.

Bank Frick also centers on institutional clients, particularly fintechs, asset managers, and payment firms operating across the EEA. Its lean structure allows for faster decision-making, which shows up in onboarding speed and client support. Users get direct access to crypto custody, trading, tokenization, and banking tools without needing to piece services together. The experience is more hands-on, with personal guidance and use-case-specific support.

Bakkt serves businesses and institutions through infrastructure, not front-end UX. It offers white-labeled trading and custody via APIs, with optional support from its institutional team. For firms looking to embed crypto capabilities, Bakkt works well, but onboarding requires technical integration and patience. It’s not designed for retail access or general banking services.

Revolut Business is optimized for speed and usability. Freelancers and businesses can open an account in under 24 hours, get access to multi-currency accounts, manage cards, automate invoicing, and trade select cryptocurrencies, all through one interface. Support is largely in-app, with live chat and help center access. It’s not built for large asset managers, but for modern businesses looking for one system to run their finances.

BankProv, prior to exiting crypto, served both traditional businesses and early crypto ventures. Its niche was offering compliant fiat accounts and API banking to crypto-native firms, particularly miners and exchanges. After exiting the space, it shifted focus back to commercial real estate lending and SME support. What remains is a general-purpose bank with tech integrations, but no digital asset access.

Strategic Positioning in 2025

Not all banks are heading in the same direction. Some are scaling. Others are pulling back or getting pulled back.

Sygnum is expanding aggressively. After securing its Liechtenstein registration, it now operates under MiCA and is pushing deeper into the EU. It’s also growing in Asia through its Singapore HQ and Abu Dhabi branch. Onboarding 20+ institutions to its B2B crypto infrastructure in early 2024 helped it post solid profitability. Its tokenization work with Matter Labs and on-chain NAV tracking with Fidelity and Chainlink show where it’s headed: full-spectrum digital asset finance.

Bank Frick isn’t expanding geographically, but it’s consolidating its position within Europe. With Liechtenstein’s EEA passporting, it doesn’t need to plant new flags. Instead, it’s doubling down on tokenization, institutional custody, and fast settlement systems like xPULSE. In 2024, it launched new lending, staking, and education initiatives, and it expects to reach CHF 12 million in profit despite rate sensitivity. Its AUM is up 27.5% since 2023, driven largely by crypto-focused clients.

Revolut is still growing, but with friction. Its crypto business remains available in most regions, but recent regulatory exits (like from the U.S.) and scrutiny from European regulators have forced it to tighten operations. While the broader Revolut ecosystem is scaling, crypto services for businesses face higher fees, lower limits, and constrained withdrawals. The product is still feature-rich, but momentum in the crypto segment has slowed.

Bakkt is in limbo. It expanded trading services in 2024, launched the BakktX ECN, and posted a major reduction in net losses. But customer trust remains low, and the Trump Media acquisition rumors haven’t helped its credibility. While the company holds strong infrastructure and licenses, execution and direction remain unclear. If a takeover happens, its future could swing sharply, either toward retail exposure or complete restructuring.

In 2025, Sygnum and Bank Frick are the ones moving forward. The rest are reacting to pressure, volatility, or uncertainty, and trying to figure out what role, if any, crypto still plays in their core strategy.

Where Else Are Things Working?

Not every success story in crypto banking comes from top-tier incumbents or headline-grabbing institutions. Two quieter operators, AMINA Bank and Banxe, are carving out useful roles by staying lean, compliant, and plugged into the realities of crypto-native needs.

AMINA Bank, formerly SEBA Bank, is one of the few institutions that moved early and deliberately into digital asset banking. It operates with a full banking license from FINMA and has extended its reach through regulatory footholds in Abu Dhabi and Hong Kong. This makes it one of the few crypto banks with compliant access across Europe, the Middle East, and Asia.

AMINA’s model centers on institutional-grade custody, staking, and trading services. It supports a wide set of PoS assets, including Ethereum, Solana, and Polkadot, and recently launched stablecoin-based yield products designed for conservative treasury management. Unlike retail-facing platforms, AMINA stays narrowly focused on high-net-worth clients, asset managers, and financial institutions, offering products like crypto-structured notes and Bitcoin-backed investment vehicles. It’s not reinventing banking, but it is delivering the infrastructure TradFi expects when stepping into crypto.

Its shift to the AMINA brand in late 2023 marked a move toward broader geographic alignment and deeper B2B services. While it lacks the public visibility of Sygnum or the UX of Revolut, AMINA has quietly built one of the most stable and compliant crypto finance stacks in the market.

Banxe approaches crypto banking from the payment layer outward. Based in the UK and operating under EMI registration, it offers multi-currency accounts, fiat-crypto conversion, and card services for both individuals and businesses. Its core value proposition lies in blending everyday finance (IBAN accounts, SEPA/SWIFT transfers, debit cards) with integrated crypto tools.

Where most crypto banks start with custody and build out, Banxe flips the model. It begins with usability and adds access: clients can send payments in EUR, GBP, or USD and instantly convert to major tokens like BTC, ETH, and USDT. It doesn’t try to be a custodian or a DeFi hub. Instead, it focuses on crypto-adjacent businesses and active users who need fast, borderless financial rails with crypto as part of the stack.

In 2025, Banxe introduced enhancements to its mobile experience, added more fiat currencies, and expanded support for global transfers. It still operates in a regulatory gray zone compared to banks like Sygnum or Bank Frick, but for users needing crypto alongside traditional payments (not buried under it) it fills a clear niche.

Challenges and Criticisms

Each of these institutions brings something different to the table, but none are without issues. User experience, service reliability, and business model clarity remain pain points across the board.

Revolut Business offers a slick interface and fast onboarding, but crypto users face higher fees, limited withdrawal functionality, and regional restrictions. While the platform is praised for ease of use and accounting integrations, crypto businesses regularly complain about account freezes and lack of support. Revolut’s status as a bank varies by jurisdiction, and users often don’t own their private keys, a sticking point for crypto-native clients.

Bakkt has the tools but lacks the trust. User reviews reflect problems with withdrawal delays, locked funds, and unresponsive support. The interface is designed for institutions, but even professional users report friction during account setup. Despite improvements in performance and custody, reputational damage from its early missteps, and ongoing rumors around political acquisition, undermine credibility.

Sygnum and Bank Frick have avoided major scandals, but they’re not immune to critique. Sygnum’s onboarding can be lengthy, and some institutional clients point to high custody and tokenization fees. Bank Frick’s heavy institutional focus means retail users may find the product ecosystem fragmented or opaque. Still, both banks have retained a reputation for security and competence in a sector often plagued by bloatware and broken flows.

Service integration is another challenge. Revolut offers a unified experience, but crypto remains compartmentalized. Bakkt split functionality across subsidiaries or third-party APIs. By contrast, Sygnum and Bank Frick run vertically integrated stacks, but at the cost of narrower user profiles and slower consumer expansion.

In the end, most tradeoffs come down to alignment: generalist fintechs serve broader audiences but compromise on crypto depth. Specialist banks build secure, compliant crypto systems, but rarely with the convenience or UX polish of mainstream platforms.

Conclusion

These banks offer a snapshot of where crypto finance stands in 2025, caught between convergence and divergence. Some are moving closer to traditional finance, adopting its playbook to secure licenses, integrate fiat rails, and appeal to institutional capital. Others are leaning into blockchain-native infrastructure, using tokenization, DeFi access, and custody innovation as strategic differentiators.

But the line between TradFi and crypto is no longer ideological. It’s operational. The firms that survive the next cycle won’t necessarily be the ones shouting the loudest about decentralization or compliance. They’ll be the ones who can handle both.

Whether we see convergence or fragmentation depends less on the technology and more on regulation and market structure. If MiCA-type frameworks go global, banks like Sygnum may become the new standard. If compliance costs outpace opportunity, more players will retreat like BankProv.

Either way, the direction is clear: crypto banking isn’t a side feature anymore. It’s becoming the infrastructure layer for the next wave of finance. The ones who treat it as such, seriously, securely, and sustainably, will shape the future of the industry.

Frequently Asked Questions (FAQ)

What is a crypto-native bank?

A crypto-native bank is a financial institution built specifically to support digital asset services. These banks typically offer custody, trading, staking, tokenization, and lending solutions within a regulated framework. Examples include Sygnum and Bank Frick.

How does Revolut Business support crypto companies?

Revolut Business offers multi-currency accounts, integrated invoicing, API access, and limited crypto trading features. However, crypto companies often face higher fees and limited functionality compared to traditional clients. Revolut does not allow self-custody or support DeFi integrations.

Is Bank Frick regulated for crypto services?

Yes. Bank Frick holds both banking and VASP licenses under Liechtenstein’s Financial Market Authority. Its passporting rights enable it to operate across the European Economic Area (EEA) while remaining fully compliant with MiCA and FATF standards.

Can businesses stake crypto with Sygnum?

Sygnum offers institutional staking for assets like ETH, ADA, and XTZ. All staking is integrated with their custody platform and protected under Swiss regulatory standards. Clients access staking through the bank’s e-banking interface or B2B services.

What makes Bakkt different from other crypto platforms?

Bakkt focuses on institutional-grade custody and brokerage. It offers API-driven crypto trading, licensed custody (NYDFS), and fiat onramps for B2B clients. Recent developments include BakktX, its ECN for low-latency trades, though user trust and growth remain issues.

Does Sygnum offer tokenization services?

Yes. Sygnum’s Desygnate platform enables the tokenization of real-world assets such as art, private equity, and real estate. These tokenized instruments can be traded on SygnEx, its secondary market platform.

Which of these banks supports MiCA compliance?

Sygnum and Bank Frick are proactively aligning with MiCA. Sygnum’s registration in Liechtenstein and Bank Frick’s EEA passporting provide clear paths to MiCA conformity. Revolut and Bakkt face more fragmented regulatory coverage.

Can you open a crypto business account at these banks?

Sygnum and Bank Frick actively onboard crypto businesses. Revolut allows some crypto-related firms but may impose restrictions. Bakkt offers white-label services for platforms but does not provide direct accounts.

Which crypto banks operate globally?

Sygnum serves clients across Europe, Asia, and the Middle East through its Swiss, Singapore, and Liechtenstein licenses. Bank Frick covers the EEA. Revolut is available in over 40 countries. Bakkt is U.S.-centric.