Crypto Bank Accounts: Business Opportunity or Regulatory Trap

Opening a bank account for cryptocurrency is not as straightforward as one might think. The answer depends on whether you're an individual or a business, and even then, it's not just about finding a crypto-friendly bank.

The DOJ's seizure of Tether bank accounts in September 2026 highlighted the importance of understanding the distinction between different types of accounts: exchange accounts, licensed crypto banks, and neobanks that provide partner-bank accounts. If you're an individual, you cannot open a personal crypto bank account. However, businesses, Web3 companies, or Decentralized Autonomous Organizations (DAOs) can open a business account that combines fiat rails and USDC custody on one platform.

OneSafe is a financial technology company that offers a neobank service for crypto startups. It provides a multi-currency account with ACH and domestic wires, SWIFT, bill pay, corporate cards, and a USDC on/off-ramp. However, it's essential to note that even with OneSafe, fiat balances in partner-bank accounts may be FDIC-insured up to $250,000, while crypto balances are not.