Texas small bank Monet enters the crypto-focused banking sector

Jinse Finance reported that Monet Bank is a small community bank in Texas, owned by billionaire political supporters of former U.S. President Donald Trump. The bank has officially entered the cryptocurrency lending business, positioning itself as an "infrastructure bank" focused on digital assets. According to its official website: "Monet is committed to becoming a top digital asset financial institution, providing innovative and forward-looking solutions for the digital economy." According to official Texas records, the bank's assets are less than $6 billion, with capital slightly over $1 billion, making it a typical community bank. This Texas bank was founded in 1988, originally named Beal Savings Bank; it was renamed XD Bank at the beginning of 2024, and two months later changed its name again to Monet Bank. Federal data shows that the bank holds a state charter, is regulated by the Federal Deposit Insurance Corporation (FDIC), and currently has six branches.