Small Texas Lender Monet Joining Field of Crypto-Focused Banks
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….
