Small Texas Lender Monet Joining Field of Crypto-Focused Banks

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Small Texas Lender Monet Joining Field of Crypto-Focused Banks The bank is owned by billionaire Andy Beal, a major supporter of U.S. President Donald Trump's 2016 campaign. By Jesse Hamilton | Edited by Nikhilesh De Dec 6, 2025, 12:23 a.m. (Brock Wegner/Unsplash/Modified by CoinDesk) Monet Bank , a small Texas community bank owned by a billionaire political supporter of President Donald Trump, has stepped into the field of crypto lenders, billing itself as an "infrastructure bank" with a focus on digital assets. "Monet is focused on being the premier digital asset financial institution, providing innovative and forward-facing solutions for the digital economy," according to its website. Though at less than $6 billion in assets and slightly more than $1 billion in capital, according to state records , the institution would be considered a very small, community bank. The Texas lender opened in 1988 as Beal Savings Bank and earlier this year changed its name to XD Bank before changing again two months later to Monet Bank. The state-chartered institution is regulated by the Federal Deposit Insurance Corp. and has six offices, according to federal data . STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Owner Andy Beal, who founded Beal Financial Corp., is known as a high-level poker player and a major 2016 backer of Trump's successful presidential campaign , having funded his own political action committee. The Information first reported on Monet Bank's shift to focus on digital assets earlier Friday. It joins a slowly growing field of banks aiming to serve the crypto industry. In October, the Office of the Comptroller of the Currency (OCC) granted a conditional charter to Erebor Bank, a new tech-focused firm backed by Founders Fund's Peter Thiel (who is also invested in CoinDesk parent Bullish. And earlier this week, former Signature Bank executives launched N3XT , a narrow bank chartered as a Wyoming Special Purpose Depository Institution that says it will settle payments instantaneously through a private blockchain. The shift comes amid a broader change in how federal bank regulators are approaching crypto. Since Trump took office, his regulators have withdrawn existing guidance warning banks under their supervision to be careful handling crypto and published fresh guidance aiming to let the crypto industry better access banking services. The FDIC's acting chair, Travis Hill, told lawmakers that his agency also expected to propose rules for the crypto industry — tied to the stablecoin-focused GENIUS Act — during a hearing earlier this week. Beal's company didn't immediately respond to a request for comment sent to a media line at its affiliate, Beal Bank. banks More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. 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