Small banks in Texas are attracting significant attention from the crypto and political world. Monet Bank, a community bank with assets under 6 billion USD, has rebranded twice this year and has repositioned itself as a crypto-focused bank, 'an infrastructure bank.'
This move is significant because the bank's owner, billionaire Andy Beal, a key ally of Trump, is bringing the bank into what analysts call a rapidly expanding power network around Donald Trump that supports Bitcoin.
Small banks are turning to crypto.
Monet Bank has clearly stated that its goal is to be a leading digital asset financial institution, offering cutting-edge solutions for Bitcoin, stablecoins, and broader digital asset finance.
The bank, which is regulated by the FDIC, has six branches in Texas and has been known for decades as Beal Savings Bank.
Earlier this year, it rebranded as XD Bank before adopting the name Monet, marking a rebranding that indicates a new strategic intent.
Beal, founder of Beal Financial Corp., is known for high-stakes poker playing and heavy support for Trump's presidential campaign in 2016 through personal political committees.
His return to the digital asset sector has made Monet one of the few government-regulated banks that are crucial to the crypto infrastructure.
Analysts see Monet joining the political network supporting Bitcoin.
According to analyst Jack Sage, Monet Bank is now part of a power network supporting Bitcoin alongside Trump, which is accelerating in 2024 and 2025.
This network includes companies with personal, political, or financial ties to Trump and his advisors, creating what Sage calls a new emerging financial block of Bitcoin and stablecoins.
...indicating that Trump's network continues to build a financial reserve system centered around Bitcoin and stablecoins, and they are not backing down. The financial system is seeing what is happening, and we are seeing it too, Sage said.
Notable entities in the block include:
Cantor Fitzgerald, involved through the son of Secretary of Commerce Howard Lutnick.
Tether, linked through former White House official Bo Hines.
Twenty One Capital, backed by Cantor, SoftBank, and Tether.
Metaplanet, where Eric Trump serves as an advisor.
Strive co-owned by Trump supporter Vivek Ramaswamy.
Strike operated by Jack Mallers and backed by Cantor Fitzgerald.
Within Trump's close circle are World Liberty Financial, American Bitcoin Corp., and Trump Media & Technology Group, which analysts say are forming a financial political structure built on Bitcoin and stablecoins.
A parallel financial system is forming.
Monet Bank's push into crypto came when regulators under Trump rescinded previous anti-crypto guidance and issued a new framework that allows banks to integrate digital asset services more easily.
Travis Hill, acting chair of the FDIC, recently told lawmakers that the agency expects to propose crypto-related requirements concerning the GENIUS Act, a bill focused on stablecoin oversight.
Monet joins new banks that are connected to crypto, including:
Erebor Bank, conditionally OCC licensed and backed by Peter Thiel.
N3XT, SPDI in Wyoming launched by former executives of Signature Bank
For investors, Monet Bank's growth is a sign that the Bitcoin ecosystem connected to Trump is no longer just a theoretical concept but is creating a legitimate financial structure.
With increased political capital, regulatory flexibility, and more institutional partners entering this space, banks and companies could engage with this emerging financial group by 2025.
