Texas’ Monet Steps Up as Crypto Infrastructure Player
Key Takes
- Billionaire Andy Beal owns Monet Bank, a small Texas bank with less than $6 billion in assets.
- It was called Beal Savings Bank when it first opened in 1988. Earlier this year, it changed its name to XD Bank, and just two months ago, it became Monet Bank.
- Now it sees itself as a top player in digital assets, providing services like stablecoin infrastructure to connect traditional banking with crypto.
Monet Bank, a small Texas bank, is making news by switching to cryptocurrency services. More banks are looking into digital assets now that the rules are getting less strict.
Since it opened in 1988, the bank has changed its name many times. It changed names from Beal Savings Bank to XD Bank, and then just a few weeks ago to Monet. It has six branches and is overseen by the FDIC. It is sticking to traditional banking while adding crypto features.
Andy Beal, the owner of the bank, is a professional poker player and a big fan of Donald Trump. What does he see? Make Monet the best place to get digital money tools. The site says it will “rebuild banking for the digital age” by using programmable stablecoins, which are like digital dollars that work well with crypto. He also supported Trump in 2016. https://edition.cnn.com/2016/09/27/politics/general-election-advertising-andy-beal-ben-carson
This isn’t happening in a vacuum. Under President Trump, regulators have stopped telling people about the risks of cryptocurrency. In November 2025, they made the rules about things like network fees clearer. The FDIC will also release new rules for cryptocurrencies this month that are related to the GENIUS Act for stablecoins.
Joining the Pack
Monet is not the only one. The OCC gave Erebor Bank the go-ahead in October 2025, with help from investor Peter Thiel. Then, in early December, people who used to work at Signature Bank started N3XT in Wyoming, which uses blockchain to make payments very quickly.
These changes mean that banks that are friendly to cryptocurrencies will do well. They might make it easier for crypto businesses to get loans, hold onto their assets, and connect with regular finance.
