Monet Bank, owned by billionaire Andy Beal, transforms into a cryptocurrency service institution

ChainCatcher reported that the small community bank Monet Bank in Texas has officially entered the cryptocurrency sector, positioning itself as an “infrastructure bank” focused on digital assets. The bank is owned by billionaire Andy Beal, who was a major supporter of Trump’s 2016 presidential campaign.

Monet Bank has assets of less than $6 billion and capital slightly over $1 billion. Previously known as Beal Savings Bank, it was renamed XD Bank earlier this year before finally being named Monet Bank.