Neobanks operating under crypto and money-transmitter licenses
These are registered as virtual-asset service providers or money-services businesses rather than as banks. Authorisation is usually jurisdiction-by-jurisdiction, so what a product may legally offer often changes depending on where you live.
All 25 crypto-licensed neobanks
| neobank | type | hq | custody | license / structure | reported users |
|---|---|---|---|---|---|
| Cash App | hybrid | Oakland, US | Custodial | Via Block's bank + BitLicense | 59M transacting actives (2025) |
| Airtm | hybrid | Mexico City, MX | Custodial | MSB registration (FinCEN, No. 31000329787639); USDC-based dollar wallet | — |
| Belo | hybrid | Buenos Aires, AR | Custodial | VASP registration (CNV PSAV No. 52, Argentina, Jul 2024) | — |
| BFinance | hybrid | Prague, CZ | Custodial | Czech VASP registration; Marqeta-issued cards | — |
| Binance Card | hybrid | — | Custodial | Jurisdiction-dependent VASP registrations | — |
| Bitget Card | hybrid | — | Custodial | Exchange VASP registrations (Lithuania, Bulgaria, Poland, Czechia); cards via issuer partners (DCS, Fiat24, Immersve) | — |
| BitPay Card | hybrid | Atlanta, US | Custodial | BitLicense (NYDFS) + FinCEN MSB + 20+ state money-transmitter licenses | — |
| Brighty | hybrid | Baar (Zug), CH | Custodial | Razz Finanzz AG (CH); crypto via Polish VASP registration (Wireflexion); fiat, IBANs and cards via BaaS partners | — |
| Buenbit | hybrid | Buenos Aires, AR | Custodial | VASP — registered PSAV with CNV (Argentina); stablecoin-focused exchange + card | — |
| Bybit Card | hybrid | Dubai, AE | Custodial | VARA (Dubai) + regional | — |
| CEX.IO Card | hybrid | London, UK | Custodial | MSB (FinCEN) + US state money-transmitter licenses; UK FCA cryptoasset registration; EU VASP (Lithuania) | — |
| Deel | hybrid | San Francisco, US | Custodial | MSB + US state money-transmitter licenses (DPayments); US wallet via Alviere/CFSB; DLUSD via Bridge | — |
| Gemini Credit Card | hybrid | New York, US | Custodial | NYDFS trust | — |
| Grey | traditional | Lagos, NG | Custodial | MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners | — |
| Kolo | hybrid | — | Custodial | AIFC FinTech Lab license (Kazakhstan) + Polish VASP; cards issued by Banco Popular de Puerto Rico | — |
| Lemon | hybrid | Buenos Aires, AR | Custodial | Registered VASP/PSAV (CNV Argentina, No. 162); payment account via Digifin S.A. | — |
| Meru | hybrid | Bogotá, CO | Custodial | MSB registration (FinCEN, R3mit Solutions Inc.); USDC accounts via licensed US/EU partners | — |
| Mogo | hybrid | Vancouver, CA | Custodial | Cards issued by Peoples Trust Company; MogoTrade is a CIRO-regulated broker (Canada) | — |
| RedotPay | hybrid | Hong Kong, HK | Custodial | Hong Kong MSO, money lender + TCSP licenses; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada) | — |
| Ripio | hybrid | Buenos Aires, AR | Custodial | VASP: PSAV registration with CNV Argentina (Nos. 36/37, 2024); regional entities in BR/MX | — |
| Strike | hybrid | Chicago, US | Custodial | Money transmitter licenses + NY BitLicense (NYDFS, 2026); Zap Solutions, Inc. | — |
| UglyCash | web3-native | San Juan, PR | Custodial | US MSB + issuer partners | — |
| Uphold | hybrid | New York, US | Custodial | FinCEN MSB + state money-transmitter licenses (US); FCA-registered cryptoasset firm (UK) | — |
| Venmo | hybrid | New York, US | Custodial | PayPal's US state licenses (money transmitter, NMLS 910457); crypto via NYDFS trust company PayPal Digital | — |
| Yolat | traditional | Lagos, NG | Custodial | FINTRAC MSB + Bank of Canada RPAA PSP (CA); IMTO (CBN, NG) | — |
Common questions
Neobanks operating under crypto and money-transmitter licenses: how many are there?
25 of the 381 neobanks tracked here are crypto-licensed neobanks. Every entry is verified active and listed on this page with its custody model, license detail and the regions it serves.
Which crypto-licensed neobanks are the largest?
Not answerable from public data: only 1 of these 25 disclose a user figure at all. The list below is therefore not a ranking, and anyone presenting one for this category is guessing.
What does this category actually mean?
These are registered as virtual-asset service providers or money-services businesses rather than as banks. Authorisation is usually jurisdiction-by-jurisdiction, so what a product may legally offer often changes depending on where you live.
Related
Neobanks running on someone else’s banking license (82) · Neobanks that hold their own banking license (132) · Neobanks authorised as e-money institutions (48) · Neobanks authorised as crypto-asset service providers under MiCA (9) · Neobanks authorised as payment institutions (13) · Neobanks that never hold your money (52)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.