Monet Bank, owned by Trump billionaire supporter Andy Beal, enters the crypto lending sector

BlockBeats news, December 6, according to The Information, a community bank in Texas—Monet Bank—has entered the cryptocurrency lending sector and claims to be an “infrastructure bank” focused on digital assets. The bank is owned by a billionaire political supporter of former U.S. President Trump. According to its official website, “Monet Bank is committed to becoming a top digital asset financial institution, providing innovative and forward-looking solutions for the digital economy.” Although state records show its assets are less than $6 billion and its capital is just over $1 billion, making it a very small community bank by size. Reportedly, the lending institution was established in 1988 and was originally named Beal Savings Bank. Andy Beal is the founder of Beal Financial Corp. He is known as a poker expert and a major financial supporter of Trump’s successful 2016 presidential campaign, and once funded his own political action committee.