Exploring the Growing Intersection of Banks and Crypto
On Mar. 18, 2025, Reuters reported that various crypto companies seek to become state or national banks, which they see as an avenue for expanding their businesses under the Trump Administration. What can change for crypto companies once they become banks? Don’t they already serve as banks? Aren’t banks increasingly embracing crypto?
Multi-faceted crypto platforms and banks have had overlapping functionality as many people can store their savings via crypto, grow capital using yield mining or staking, or get crypto loans. In regions with a high unbanked population that has smartphones, crypto platforms already occupy a bank-like position.
However, getting licensed as a state or national bank is different from…
